Allianz Asset Management GmbH Has $136.43 Million Holdings in NetApp, Inc. $NTAP

Key Points

• Allianz Asset Management GmbH reduced its stake in NetApp, Inc. by 36.4%, now holding approximately $136.43 million worth of shares after selling over 730,000 shares.
• NetApp reported a missed earnings estimate for the recent quarter, with $1.19 earnings per share, falling short of the expected $1.54, while generating $1.56 billion in revenue.
• The company has announced a quarterly dividend of $0.52 per share, representing an annualized yield of 1.7%, with the payment scheduled for October 22nd.

Allianz Asset Management GmbH cut its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 36.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,280,427 shares of the data storage provider's stock after selling 733,810 shares during the period. Allianz Asset Management GmbH owned about 0.64% of NetApp worth $136,429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Achmea Investment Management B.V. boosted its position in NetApp by 55.8% during the first quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider's stock valued at $19,492,000 after acquiring an additional 79,457 shares during the last quarter. Burns Matteson Capital Management LLC bought a new position in shares of NetApp during the 1st quarter worth about $321,000. UNICOM Systems Inc. bought a new position in shares of NetApp during the 1st quarter worth about $13,483,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of NetApp by 20.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,357 shares of the data storage provider's stock worth $5,247,000 after purchasing an additional 10,080 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of NetApp by 6.7% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,428 shares of the data storage provider's stock worth $3,727,000 after purchasing an additional 2,682 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Trading Up 0.8%

Shares of NTAP stock opened at $121.47 on Thursday. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The firm has a 50-day moving average price of $116.85 and a 200 day moving average price of $104.16. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.62 and a beta of 1.45.

NetApp (NASDAQ:NTAP - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.54 by ($0.35). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The company had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same quarter in the prior year, the company earned $1.56 EPS. The firm's revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Research analysts forecast that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. NetApp's dividend payout ratio is presently 36.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NTAP shares. JPMorgan Chase & Co. increased their price objective on shares of NetApp from $115.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Citigroup upped their target price on shares of NetApp from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Weiss Ratings restated a "hold (c+)" rating on shares of NetApp in a report on Wednesday, October 8th. Bank of America increased their price objective on shares of NetApp from $121.00 to $125.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Finally, Wedbush reiterated a "neutral" rating and issued a $110.00 price objective on shares of NetApp in a research note on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $121.40.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 779 shares of the firm's stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Kurian sold 8,750 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the completion of the transaction, the chief executive officer owned 274,938 shares of the company's stock, valued at $33,792,629.58. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,529 shares of company stock valued at $3,362,874 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.

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