Mirae Asset Global Investments Co. Ltd. Boosts Stake in NetApp, Inc. $NTAP

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 25.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,586 shares of the data storage provider’s stock after buying an additional 8,146 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NetApp were worth $4,346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Ascent Group LLC raised its position in shares of NetApp by 1.5% during the 3rd quarter. Ascent Group LLC now owns 6,084 shares of the data storage provider’s stock valued at $721,000 after buying an additional 90 shares in the last quarter. Caliber Wealth Management LLC KS raised its position in shares of NetApp by 5.0% during the 3rd quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock valued at $249,000 after buying an additional 100 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in shares of NetApp by 2.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider’s stock valued at $655,000 after buying an additional 106 shares in the last quarter. Transcend Capital Advisors LLC raised its position in shares of NetApp by 5.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock valued at $209,000 after buying an additional 107 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of NetApp by 2.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,531 shares of the data storage provider’s stock valued at $537,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NTAP shares. Wall Street Zen cut shares of NetApp from a “buy” rating to a “hold” rating in a research report on Sunday. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th. Citigroup lifted their target price on shares of NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Weiss Ratings cut shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Finally, JPMorgan Chase & Co. cut shares of NetApp from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $110.00 in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $120.75.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $96.25, for a total value of $96,250.00. Following the sale, the executive vice president owned 19,382 shares of the company’s stock, valued at $1,865,517.50. This trade represents a 4.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 3,000 shares of company stock valued at $300,370. 0.28% of the stock is owned by company insiders.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $111.80 on Wednesday. The stock has a market cap of $22.06 billion, a PE ratio of 18.70, a PEG ratio of 3.31 and a beta of 1.30. The company’s fifty day moving average is $101.23 and its 200 day moving average is $107.02. NetApp, Inc. has a 52 week low of $81.73 and a 52 week high of $126.66. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Research analysts anticipate that NetApp, Inc. will post 6.48 earnings per share for the current year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is 34.78%.

About NetApp

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.