NetApp, Inc. $NTAP Shares Purchased by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in NetApp, Inc. by 27.8%, acquiring an additional 43,520 shares, bringing its total holdings to 199,826 shares valued at approximately $17.55 million.
• NetApp reported earnings of $1.93 EPS for the last quarter, surpassing estimates, and showed a 3.8% year-over-year revenue growth, with reported revenue of $1.73 billion.
• The company recently announced a quarterly dividend of $0.52 per share, yielding 1.9%, with a dividend payout ratio of 36.62%.

Korea Investment CORP raised its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 27.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,826 shares of the data storage provider's stock after buying an additional 43,520 shares during the period. Korea Investment CORP owned about 0.10% of NetApp worth $17,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of NetApp by 2.3% during the first quarter. Vanguard Group Inc. now owns 27,041,930 shares of the data storage provider's stock worth $2,375,363,000 after buying an additional 597,956 shares during the period. Ameriprise Financial Inc. boosted its position in shares of NetApp by 14.5% during the fourth quarter. Ameriprise Financial Inc. now owns 7,024,456 shares of the data storage provider's stock worth $815,402,000 after buying an additional 888,671 shares during the period. Invesco Ltd. boosted its position in shares of NetApp by 12.3% during the first quarter. Invesco Ltd. now owns 3,507,590 shares of the data storage provider's stock worth $308,107,000 after buying an additional 384,362 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of NetApp by 8.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,986,330 shares of the data storage provider's stock worth $346,653,000 after buying an additional 220,393 shares during the period. Finally, Northern Trust Corp boosted its position in shares of NetApp by 24.2% during the fourth quarter. Northern Trust Corp now owns 2,824,327 shares of the data storage provider's stock worth $327,848,000 after buying an additional 550,607 shares during the period. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NTAP has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Wells Fargo & Company dropped their price objective on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. 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 report on Monday. Evercore ISI dropped their price objective on shares of NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th. Finally, Barclays lifted their price target on NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $119.64.

Insider Buying and Selling

In related news, EVP Elizabeth M. O'callahan sold 1,000 shares of the business's stock in a transaction dated Monday, August 11th. The stock was 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 in the company, valued at $2,462,280.90. The trade was a 4.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 302 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total value of $29,828.54. Following the completion of the transaction, the chief accounting officer owned 455 shares in the company, valued at $44,940.35. This trade represents a 39.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,802 shares of company stock worth $2,951,604 in the last 90 days. Company insiders own 0.28% of the company's stock.

NetApp Stock Performance

Shares of NTAP traded up $0.7680 during midday trading on Monday, reaching $111.2880. 1,151,205 shares of the stock were exchanged, compared to its average volume of 2,015,707. The business's 50-day moving average price is $105.83 and its 200 day moving average price is $100.22. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.25 and a quick ratio of 1.22. NetApp, Inc. has a twelve month low of $71.84 and a twelve month high of $135.45. The company has a market capitalization of $22.30 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.58 and a beta of 1.44.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. NetApp had a return on equity of 126.96% and a net margin of 18.05%.The business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the firm earned $1.80 earnings per share. The business's revenue 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, sell-side analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

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

About NetApp

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.