Mirae Asset Global Investments Co. Ltd. Purchases 8,146 Shares of NetApp, Inc. $NTAP

Mirae Asset Global Investments Co. Ltd. boosted its position in NetApp, Inc. (NASDAQ:NTAP) by 25.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,586 shares of the data storage provider’s stock after acquiring an additional 8,146 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in NetApp were worth $4,346,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NTAP. Geneos Wealth Management Inc. grew its holdings in NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after acquiring an additional 210 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in NetApp in the 2nd quarter worth $315,000. Cerity Partners LLC grew its holdings in NetApp by 9.9% in the 2nd quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock worth $4,986,000 after acquiring an additional 4,232 shares during the last quarter. Bank of Nova Scotia grew its holdings in NetApp by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock worth $2,589,000 after acquiring an additional 1,662 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of NetApp by 12.7% during the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after purchasing an additional 2,277 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $96.25, for a total transaction 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. The trade was a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 3,000 shares of company stock worth $300,370 over the last 90 days. Insiders own 0.28% of the company’s stock.

NetApp Trading Up 4.7%

Shares of NTAP opened at $111.80 on Wednesday. The firm’s 50-day moving average price is $101.23 and its 200-day moving average price is $107.02. The firm has a market capitalization of $22.06 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 3.31 and a beta of 1.30. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. NetApp, Inc. has a 1-year low of $81.73 and a 1-year high of $126.66.

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

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $2.08 annualized dividend and a yield of 1.9%. NetApp’s payout ratio is presently 34.78%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NTAP shares. Weiss Ratings lowered shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Wall Street Zen lowered shares of NetApp from a “buy” rating to a “hold” rating in a research note on Sunday. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of NetApp in a research note on Wednesday, February 25th. JPMorgan Chase & Co. lowered shares of NetApp from an “overweight” rating to a “neutral” rating and cut their target price for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. Finally, The Goldman Sachs Group started coverage on shares of NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, NetApp has a consensus rating of “Hold” and a consensus price target of $120.75.

NetApp Company Profile

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.