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

Cullen Frost Bankers Inc. increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,953 shares of the Internet television network’s stock after purchasing an additional 320 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Netflix were worth $24,024,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. West Michigan Advisors LLC boosted its stake in shares of Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after purchasing an additional 10 shares during the period. Enzi Wealth boosted its stake in shares of Netflix by 3.4% during the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock worth $316,000 after purchasing an additional 11 shares during the period. TCI Wealth Advisors Inc. boosted its stake in shares of Netflix by 1.6% during the 4th quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock worth $624,000 after purchasing an additional 11 shares during the period. Everett Harris & Co. CA boosted its stake in shares of Netflix by 1.3% during the 4th quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock worth $775,000 after purchasing an additional 11 shares during the period. Finally, Blossom Wealth Management boosted its stake in shares of Netflix by 0.9% during the 4th quarter. Blossom Wealth Management now owns 1,248 shares of the Internet television network’s stock worth $1,112,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NFLX. Macquarie lifted their price target on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Loop Capital boosted their price objective on shares of Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Finally, Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Stock Up 1.9 %

NASDAQ:NFLX opened at $990.92 on Thursday. The company has a market cap of $423.87 billion, a PE ratio of 49.97, a P/E/G ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $950.95 and its two-hundred day moving average is $838.65.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.11 EPS. Analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 30,485 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the completion of the sale, the chairman now directly owns 394 shares in the company, valued at $386,876.48. This trade represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,103 shares of company stock valued at $279,142,041. Insiders own 1.76% of the company’s stock.

Netflix 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.