Cullen Frost Bankers Inc. Raises Stake in Netflix, Inc. (NASDAQ:NFLX)

Cullen Frost Bankers Inc. lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,242 shares of the Internet television network’s stock after buying an additional 727 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Netflix were worth $11,803,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. KFA Private Wealth Group LLC boosted its position in shares of Netflix by 1.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after purchasing an additional 18 shares during the period. Addison Advisors LLC boosted its position in Netflix by 7.8% during the 4th quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock worth $134,000 after acquiring an additional 20 shares during the period. Regent Peak Wealth Advisors LLC boosted its position in Netflix by 1.6% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 1,304 shares of the Internet television network’s stock worth $635,000 after acquiring an additional 21 shares during the period. Capital Advisors Ltd. LLC boosted its position in Netflix by 5.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 393 shares of the Internet television network’s stock worth $191,000 after acquiring an additional 22 shares during the period. Finally, Centurion Wealth Management LLC boosted its position in Netflix by 2.4% during the 4th quarter. Centurion Wealth Management LLC now owns 984 shares of the Internet television network’s stock worth $479,000 after acquiring an additional 23 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

NFLX traded up $3.47 during trading on Wednesday, hitting $609.47. The company’s stock had a trading volume of 3,092,564 shares, compared to its average volume of 4,404,261. The firm’s 50 day moving average price is $602.85 and its two-hundred day moving average price is $531.62. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 12 month low of $329.51 and a 12 month high of $639.00. The stock has a market capitalization of $262.66 billion, a price-to-earnings ratio of 42.29, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the previous year, the company posted $2.88 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts forecast that Netflix, Inc. will post 18.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NFLX shares. Jefferies Financial Group raised their price objective on Netflix from $580.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 12th. Needham & Company LLC raised Netflix from a “hold” rating to a “buy” rating and set a $700.00 price target for the company in a research note on Friday, April 19th. Sanford C. Bernstein raised their price target on Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a research note on Friday, April 19th. Wedbush reaffirmed an “outperform” rating and set a $725.00 price target on shares of Netflix in a research note on Friday, April 19th. Finally, Rosenblatt Securities cut their price target on Netflix from $554.00 to $540.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $631.15.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 268 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $18,764,328.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider David A. Hyman sold 268 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the transaction, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The disclosure for this sale can be found here. Insiders sold a total of 155,298 shares of company stock worth $89,753,167 over the last 90 days. 1.76% of the stock is owned by insiders.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.