Korea Investment CORP Acquires 43,520 Shares of NetApp, Inc. $NTAP

Korea Investment CORP lifted its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 27.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 199,826 shares of the data storage provider’s stock after acquiring an additional 43,520 shares during the quarter. Korea Investment CORP owned approximately 0.10% of NetApp worth $17,553,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Manchester Capital Management LLC boosted its position in NetApp by 375.0% during the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 225 shares during the period. Olde Wealth Management LLC bought a new position in shares of NetApp in the first quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of NetApp by 54.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 350 shares of the data storage provider’s stock worth $31,000 after buying an additional 124 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of NetApp by 929.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider’s stock worth $32,000 after buying an additional 251 shares during the period. Finally, Coppell Advisory Solutions LLC grew its stake in NetApp by 50.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the data storage provider’s stock valued at $35,000 after buying an additional 100 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Price Performance

NetApp stock opened at $108.42 on Thursday. The firm has a market cap of $21.72 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 2.51 and a beta of 1.44. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.25 and a quick ratio of 1.22. The stock’s fifty day moving average price is $105.53 and its two-hundred day moving average price is $100.70. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45.

NetApp (NASDAQ:NTAP) last released its earnings results 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 company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the firm posted $1.80 EPS. NetApp’s quarterly revenue was up 3.8% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q1 2026 guidance at 1.480-1.580 EPS. As a group, research analysts expect that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. NetApp’s dividend payout ratio (DPR) is currently 36.62%.

Insider Activity

In related news, 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 directly owned 23,251 shares of the company’s stock, valued at $2,462,280.90. This trade represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lorenzo Daniel De sold 302 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $98.77, for a total value of $29,828.54. Following the sale, the chief accounting officer owned 455 shares of the company’s stock, valued at $44,940.35. The trade was a 39.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,802 shares of company stock worth $2,951,604. 0.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on NTAP. JPMorgan Chase & Co. raised 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 increased their target price on NetApp from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. 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. Evercore ISI decreased their price objective on NetApp from $120.00 to $100.00 and set an “in-line” rating on the stock in a report on Monday, April 28th. Finally, Wells Fargo & Company dropped their target price on NetApp from $115.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, May 30th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $119.21.

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.