Fuller & Thaler Asset Management Inc. Boosts Stock Position in NetApp, Inc. $NTAP

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in NetApp, Inc. by 62.6% in Q1, acquiring an additional 17,082 shares, bringing its total to 44,370 shares valued at approximately $3.9 million.
• NetApp reported earnings of $1.93 EPS for the recent quarter, surpassing analyst expectations of $1.90, with revenues of $1.73 billion, a 3.8% increase year-over-year.
• The company's board declared a quarterly dividend of $0.52 per share, representing a 1.9% dividend yield, with a total annualized dividend of $2.08.

Fuller & Thaler Asset Management Inc. boosted its stake in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 62.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,370 shares of the data storage provider's stock after purchasing an additional 17,082 shares during the quarter. Fuller & Thaler Asset Management Inc.'s holdings in NetApp were worth $3,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in NetApp by 39.6% during the first quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider's stock valued at $3,250,000 after purchasing an additional 10,494 shares in the last quarter. 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 purchasing an additional 79,457 shares in the last quarter. Burns Matteson Capital Management LLC bought a new stake in NetApp during the first quarter valued at about $321,000. UNICOM Systems Inc. bought a new stake in NetApp during the first quarter valued at about $13,483,000. Finally, Hennessy Advisors Inc. bought a new stake in NetApp during the first quarter valued at about $2,050,000. Institutional investors own 92.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NTAP. JPMorgan Chase & Co. raised their price objective on NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Citigroup raised their price objective on NetApp from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. Morgan Stanley assumed coverage on NetApp in a report on Thursday, August 21st. They issued an "equal weight" rating and a $115.00 price target for the company. Wells Fargo & Company lowered their price target on NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Finally, UBS Group lowered their price target on NetApp from $115.00 to $108.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, NetApp presently has an average rating of "Hold" and an average price target of $119.64.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 302 shares of NetApp stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $98.77, for a total transaction of $29,828.54. Following the completion of the transaction, the chief accounting officer directly owned 455 shares in the company, valued at approximately $44,940.35. This trade represents a 39.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $105.90, for a total value of $105,900.00. Following the transaction, the executive vice president owned 23,251 shares of the company's stock, valued at approximately $2,462,280.90. This represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,802 shares of company stock worth $2,951,604. 0.28% of the stock is owned by corporate insiders.

NetApp Stock Performance

Shares of NASDAQ:NTAP traded down $1.07 during trading on Tuesday, hitting $109.94. The stock had a trading volume of 476,676 shares, compared to its average volume of 2,013,107. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $135.45. The stock has a market capitalization of $22.03 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 2.58 and a beta of 1.44. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 2.39. The stock has a 50-day simple moving average of $105.97 and a two-hundred day simple moving average of $100.13.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. NetApp had a return on equity of 126.96% and a net margin of 18.05%.The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same period last year, the business posted $1.80 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q1 2026 guidance at 1.480-1.580 EPS. On average, equities research analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. NetApp's dividend payout ratio (DPR) is currently 36.62%.

NetApp 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.