Cullen Frost Bankers Inc. Purchases 1,580 Shares of NetApp, Inc. $NTAP

Cullen Frost Bankers Inc. boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 47.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,913 shares of the data storage provider’s stock after buying an additional 1,580 shares during the period. Cullen Frost Bankers Inc.’s holdings in NetApp were worth $523,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTAP. Manchester Capital Management LLC boosted its stake in NetApp by 375.0% during the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after buying an additional 225 shares during the last quarter. 1248 Management LLC purchased a new stake in NetApp during the first quarter valued at approximately $25,000. Harbour Investments Inc. raised its position in NetApp by 287.9% during 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 NetApp during the second quarter valued at approximately $28,000. Finally, Olde Wealth Management LLC purchased a new stake in NetApp during the first quarter valued at approximately $29,000. 92.17% of the stock is owned by institutional investors.

NetApp Trading Down 1.0%

Shares of NASDAQ NTAP opened at $116.64 on Friday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. The business’s 50 day moving average price is $118.34 and its 200-day moving average price is $105.87. NetApp, Inc. has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.56 and a beta of 1.45.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, sell-side analysts expect that NetApp, Inc. will post 5.89 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.08 annualized dividend and a yield of 1.8%. NetApp’s dividend payout ratio is 36.75%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NTAP shares. UBS Group upped their price objective on NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Morgan Stanley set a $117.00 price objective on NetApp in a research report on Thursday, August 28th. William Blair restated a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. JPMorgan Chase & Co. upped their price objective on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Finally, Wedbush restated a “neutral” rating and set a $110.00 price objective on shares of NetApp in a research report on Friday, October 10th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $122.40.

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 779 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO George Kurian sold 8,750 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 274,938 shares in the company, valued at $33,792,629.58. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,029 shares of company stock valued at $2,444,194 over the last quarter. 0.28% of the stock is owned by corporate insiders.

NetApp 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.