Virtus Family Office LLC Makes New Investment in NetApp, Inc. $NTAP

Virtus Family Office LLC acquired a new position in NetApp, Inc. (NASDAQ:NTAP) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 8,100 shares of the data storage provider’s stock, valued at approximately $867,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crestwood Advisors Group LLC acquired a new position in shares of NetApp in the 4th quarter valued at approximately $254,000. Sequoia Financial Advisors LLC raised its position in shares of NetApp by 23.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 13,544 shares of the data storage provider’s stock valued at $1,450,000 after buying an additional 2,538 shares in the last quarter. Gateway Investment Advisers LLC acquired a new position in shares of NetApp in the 4th quarter valued at approximately $816,000. Swedbank AB raised its position in shares of NetApp by 22.0% in the 4th quarter. Swedbank AB now owns 97,086 shares of the data storage provider’s stock valued at $10,397,000 after buying an additional 17,520 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of NetApp by 6.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 439,699 shares of the data storage provider’s stock valued at $46,815,000 after buying an additional 28,456 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $96.25, for a total transaction of $96,250.00. Following the sale, the executive vice president directly owned 19,382 shares of the company’s stock, valued at approximately $1,865,517.50. The trade was a 4.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 3,000 shares of company stock worth $300,370. Insiders own 0.28% of the company’s stock.

NetApp Trading Up 1.1%

Shares of NetApp stock opened at $113.00 on Friday. The firm has a market capitalization of $22.30 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 3.16 and a beta of 1.28. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. The firm’s 50 day moving average is $102.98 and its 200 day moving average is $106.38. NetApp, Inc. has a 1 year low of $92.91 and a 1 year high of $126.66.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.05. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Equities research analysts forecast that NetApp, Inc. will post 6.48 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.8%. NetApp’s payout ratio is 34.78%.

Analyst Upgrades and Downgrades

NTAP has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of NetApp from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $125.00 to $110.00 in a research report on Thursday, April 16th. Weiss Ratings cut shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. The Goldman Sachs Group initiated coverage on shares of NetApp in a research report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price for the company. Citigroup boosted their target price on shares of NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Finally, Wall Street Zen cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $122.64.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.