Mirae Asset Global Investments Co. Ltd. Reduces Holdings in NetApp, Inc. $NTAP

Mirae Asset Global Investments Co. Ltd. cut its stake in NetApp, Inc. (NASDAQ:NTAP) by 22.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,440 shares of the data storage provider’s stock after selling 9,408 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in NetApp were worth $3,843,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in NetApp by 2.5% in the second quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock valued at $2,954,431,000 after buying an additional 686,188 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of NetApp by 16.8% in the 2nd quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock valued at $756,665,000 after acquiring an additional 1,024,626 shares during the period. Boston Partners raised its position in NetApp by 108.9% in the 2nd quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock valued at $313,997,000 after purchasing an additional 1,536,339 shares during the last quarter. Norges Bank acquired a new stake in NetApp during the 2nd quarter worth $281,093,000. Finally, Amundi grew its position in NetApp by 8.4% during the 2nd quarter. Amundi now owns 2,362,028 shares of the data storage provider’s stock worth $237,269,000 after purchasing an additional 182,318 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Monday, January 12th. The stock was sold at an average price of $105.49, for a total transaction of $105,490.00. Following the completion of the transaction, the executive vice president directly owned 21,075 shares of the company’s stock, valued at approximately $2,223,201.75. The trade was a 4.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 327 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,654 shares of company stock valued at $175,782 over the last ninety days. 0.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group began coverage on shares of NetApp in a report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price for the company. UBS Group increased their price objective on NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Wells Fargo & Company lifted their target price on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research note on Wednesday, November 26th. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a research note on Thursday, January 22nd. Finally, Bank of America increased their price target on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, NetApp presently has an average rating of “Moderate Buy” and an average price target of $124.33.

NetApp Trading Down 2.0%

NASDAQ:NTAP opened at $96.35 on Monday. NetApp, Inc. has a 1 year low of $71.84 and a 1 year high of $127.78. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a fifty day moving average price of $108.23 and a two-hundred day moving average price of $111.91. The stock has a market capitalization of $19.08 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 2.13 and a beta of 1.39.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results 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 17.73% and a return on equity of 121.28%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the company posted $1.87 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. As a group, sell-side analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Friday, January 2nd were issued a $0.52 dividend. The ex-dividend date was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.2%. NetApp’s dividend payout ratio is currently 36.17%.

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.