Cullen Frost Bankers Inc. Buys 727 Shares of Netflix, Inc. (NASDAQ:NFLX)

Cullen Frost Bankers Inc. increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 24,242 shares of the Internet television network’s stock after acquiring an additional 727 shares during the period. Cullen Frost Bankers Inc.’s holdings in Netflix were worth $11,803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Jennison Associates LLC raised its holdings in shares of Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. Northern Trust Corp raised its holdings in Netflix by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock valued at $1,749,712,000 after acquiring an additional 96,938 shares during the period. Fisher Asset Management LLC raised its holdings in Netflix by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after acquiring an additional 78,298 shares during the period. Clearbridge Investments LLC raised its holdings in Netflix by 5.3% during the 3rd quarter. Clearbridge Investments LLC now owns 2,783,694 shares of the Internet television network’s stock valued at $1,051,123,000 after acquiring an additional 139,165 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Netflix by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,439,493 shares of the Internet television network’s stock valued at $1,187,740,000 after acquiring an additional 45,865 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 0.6 %

Shares of NASDAQ NFLX traded up $3.47 during trading hours 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 company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $262.66 billion, a price-to-earnings ratio of 42.29, a P/E/G ratio of 1.40 and a beta of 1.23. Netflix, Inc. has a 12 month low of $329.51 and a 12 month high of $639.00. The business has a 50-day simple moving average of $602.85 and a 200-day simple moving average of $531.62.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. Netflix’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $2.88 earnings per share. On average, analysts anticipate that Netflix, Inc. will post 18.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the sale, 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 the SEC website. In other Netflix news, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 268 shares of the firm’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 sale, the insider now owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The disclosure for this sale can be found here. Insiders have sold 155,298 shares of company stock valued at $89,753,167 over the last ninety days. 1.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NFLX shares. Macquarie boosted their target price on shares of Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. The Goldman Sachs Group boosted their target price on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Loop Capital upped their price target on shares of Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Rosenblatt Securities decreased their price target on shares of Netflix from $554.00 to $540.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $631.15.

About Netflix

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.