Korea Investment CORP Lowers Holdings in NetApp, Inc. $NTAP

Korea Investment CORP lowered its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 27.3% in the second quarter, HoldingsChannel reports. The fund owned 145,274 shares of the data storage provider’s stock after selling 54,552 shares during the quarter. Korea Investment CORP’s holdings in NetApp were worth $15,479,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Harbour Investments Inc. grew its holdings in NetApp by 287.9% in the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 190 shares during the period. Harbor Asset Planning Inc. purchased a new stake in shares of NetApp during the 2nd quarter valued at $28,000. 1248 Management LLC purchased a new stake in shares of NetApp during the 1st quarter valued at $25,000. Manchester Capital Management LLC increased its holdings in shares of NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after buying an additional 225 shares during the last quarter. Finally, CVA Family Office LLC raised its position in shares of NetApp by 300.0% in the 2nd quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after buying an additional 219 shares during the period. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Stock Up 2.2%

NASDAQ NTAP opened at $111.61 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $131.30. The business has a 50 day moving average price of $115.50 and a two-hundred day moving average price of $110.32. The stock has a market cap of $22.28 billion, a PE ratio of 19.72, a P/E/G ratio of 2.48 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last posted its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.17. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.87 earnings per share. 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, sell-side analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

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

Analyst Ratings Changes

NTAP has been the subject of several research analyst reports. UBS Group upped their price target on NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday. William Blair reissued a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. Wells Fargo & Company lifted their price target on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research report on Wednesday. Citigroup decreased their price objective on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Finally, Northland Securities set a $137.00 target price on shares of NetApp and gave the company an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.07.

Insider Activity

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $119.00, for a total transaction of $119,000.00. Following the sale, the executive vice president directly owned 22,628 shares in the company, valued at $2,692,732. The trade was a 4.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction that occurred on 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 directly owned 274,938 shares in the company, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,183 shares of company stock worth $1,483,361 over the last ninety days. Corporate insiders own 0.28% of the company’s stock.

NetApp Company Profile

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.