Cullen Frost Bankers Inc. Purchases 6,890 Shares of Netflix, Inc. (NASDAQ:NFLX)

Cullen Frost Bankers Inc. grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 25.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,843 shares of the Internet television network’s stock after purchasing an additional 6,890 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Netflix were worth $31,560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the period. FMR LLC boosted its holdings in Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after purchasing an additional 375,234 shares during the period. Geode Capital Management LLC boosted its holdings in Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after purchasing an additional 175,596 shares during the period. GAMMA Investing LLC boosted its holdings in Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Finally, Norges Bank bought a new stake in Netflix during the fourth quarter valued at $5,019,087,000. 80.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NFLX shares. JPMorgan Chase & Co. lifted their price target on Netflix from $1,220.00 to $1,230.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Canaccord Genuity Group reiterated a “buy” rating on shares of Netflix in a research report on Thursday, July 10th. Seaport Res Ptn downgraded shares of Netflix from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 6th. Morgan Stanley lifted their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $1,425.00 price target (up previously from $1,200.00) on shares of Netflix in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,227.39.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,260.27 on Wednesday. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The company has a 50 day simple moving average of $1,226.71 and a two-hundred day simple moving average of $1,054.65. The company has a market capitalization of $536.33 billion, a price-to-earnings ratio of 59.56, a P/E/G ratio of 2.28 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period last year, the company earned $8.28 earnings per share. Analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ann Mather sold 1,090 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reed Hastings sold 9,673 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the sale, the director owned 394 shares of the company’s stock, valued at approximately $523,669.34. This represents a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is owned by corporate insiders.

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.