79,671 Shares in NetApp, Inc. $NTAP Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in NetApp, Inc. (NASDAQ:NTAP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 79,671 shares of the data storage provider’s stock, valued at approximately $16,737,000.

Several other large investors also recently made changes to their positions in the business. West Financial Advisors LLC acquired a new position in shares of NetApp during the 2nd quarter valued at $37,000. Fortitude Family Office LLC increased its holdings in NetApp by 56.9% in the 3rd quarter. Fortitude Family Office LLC now owns 204 shares of the data storage provider’s stock valued at $43,000 after purchasing an additional 74 shares in the last quarter. Bell Investment Advisors Inc acquired a new stake in NetApp in the 2nd quarter valued at $55,000. Elevation Wealth Partners LLC raised its position in NetApp by 90.8% in the third quarter. Elevation Wealth Partners LLC now owns 292 shares of the data storage provider’s stock valued at $61,000 after purchasing an additional 139 shares during the period. Finally, Compass Financial Management LLC purchased a new position in NetApp in the second quarter valued at about $70,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Weiss Ratings upgraded NetApp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Northland Securities increased their target price on NetApp from $171.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Wall Street Zen downgraded NetApp from a “strong-buy” rating to a “buy” rating in a report on Saturday. Cantor Fitzgerald raised NetApp to an “overweight” rating in a research report on Wednesday, October 7th. Finally, Guggenheim initiated coverage on NetApp in a report on Monday, October 26th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.24.

Insider Buying and Selling

In other news, Director Deepak Ahuja sold 3,450 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $200.00, for a total value of $690,000.00. Following the completion of the sale, the director directly owned 12,814 shares in the company, valued at approximately $2,562,800. The trade was a 21.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Kurian sold 10,000 shares of NetApp stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $210.04, for a total transaction of $2,100,400.00. Following the completion of the transaction, the chief executive officer directly owned 208,537 shares of the company’s stock, valued at approximately $43,801,111.48. This represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 173,524 shares of company stock worth $35,018,126. 0.36% of the stock is currently owned by insiders.

NetApp Stock Performance

NetApp stock opened at $190.78 on Wednesday. NetApp, Inc. has a 12-month low of $93.69 and a 12-month high of $240.87. The company has a market capitalization of $37.47 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 1.99 and a beta of 1.52. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.24 and a quick ratio of 1.16. The firm’s fifty day moving average price is $205.11 and its 200 day moving average price is $150.83.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. NetApp had a net margin of 19.18% and a return on equity of 119.13%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the company posted $1.15 EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, research analysts forecast that NetApp, Inc. will post 8.32 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. NetApp’s dividend payout ratio (DPR) is presently 29.34%.

About NetApp

NetApp, Inc is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises data centers, public clouds and hybrid environments. Its offerings support enterprise applications, artificial intelligence workloads, business analytics, backup and disaster recovery.

The company’s portfolio includes all-flash and hybrid-flash storage systems, the ONTAP data management operating system, StorageGRID object storage and Keystone storage-as-a-service.