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

Korea Investment CORP trimmed its position in NetApp, Inc. (NASDAQ:NTAP) by 27.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,274 shares of the data storage provider’s stock after selling 54,552 shares during the period. Korea Investment CORP owned approximately 0.07% of NetApp worth $15,479,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Elevation Point Wealth Partners LLC acquired a new position in shares of NetApp during the second quarter worth about $94,000. Harfst & Associates Inc. increased its position in NetApp by 127.4% during the 2nd quarter. Harfst & Associates Inc. now owns 16,453 shares of the data storage provider’s stock worth $1,753,000 after purchasing an additional 9,219 shares during the period. Quadrant Capital Group LLC increased its position in NetApp by 92.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 7,802 shares of the data storage provider’s stock worth $831,000 after purchasing an additional 3,742 shares during the period. Vinva Investment Management Ltd raised its stake in shares of NetApp by 48.4% during the 2nd quarter. Vinva Investment Management Ltd now owns 157,062 shares of the data storage provider’s stock worth $16,605,000 after buying an additional 51,232 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in shares of NetApp in the 2nd quarter valued at approximately $182,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NTAP. Wells Fargo & Company increased their price objective on NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research report on Wednesday. Wedbush reiterated a “neutral” rating and issued a $110.00 price target on shares of NetApp in a report on Friday, October 10th. William Blair reissued a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Morgan Stanley set a $117.00 target price on shares of NetApp in a report on Thursday, August 28th. Finally, Oppenheimer reissued a “market perform” rating on shares of NetApp in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, NetApp currently has an average rating of “Moderate Buy” and a consensus price target of $124.07.

NetApp Stock Performance

Shares of NTAP opened at $111.61 on Friday. NetApp, Inc. has a 12-month low of $71.84 and a 12-month high of $131.30. The stock has a market cap of $22.28 billion, a P/E ratio of 19.72, a PEG ratio of 2.48 and a beta of 1.46. 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 50-day moving average of $115.50 and a two-hundred day moving average of $110.32.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.17. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period last year, the company posted $1.87 EPS. The company’s revenue was up 2.8% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS. Q3 2026 guidance at 2.010-2.110 EPS. As a group, research analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.9%. NetApp’s dividend payout ratio (DPR) is presently 36.17%.

Insider Buying and Selling

In related news, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction dated 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 approximately $33,792,629.58. The trade was a 3.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 327 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $107.48, for a total transaction of $35,145.96. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 12,183 shares of company stock worth $1,483,361. 0.28% of the stock is owned by corporate insiders.

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.