Cullen Frost Bankers Inc. Has $31.56 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Cullen Frost Bankers Inc. boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 25.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,843 shares of the Internet television network's stock after acquiring 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.

A number of other large investors have also recently added to or reduced their stakes in NFLX. Fullcircle Wealth LLC grew its stake in shares of Netflix by 2.5% during the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after acquiring an additional 9 shares during the last quarter. MRP Capital Investments LLC lifted its position in Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after acquiring an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC increased its holdings in shares of Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after purchasing an additional 10 shares during the period. Mission Creek Capital Partners Inc. lifted its stake in Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after acquiring an additional 10 shares during the period. Finally, Continuum Wealth Advisors LLC raised its stake in shares of Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Stock Down 4.7%

NFLX stock traded down $60.14 during midday trading on Friday, hitting $1,214.04. 6,495,676 shares of the company's stock were exchanged, compared to its average volume of 3,786,297. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $516.66 billion, a price-to-earnings ratio of 57.36, a price-to-earnings-growth ratio of 2.26 and a beta of 1.59. The firm has a 50 day moving average price of $1,231.20 and a 200-day moving average price of $1,058.57.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same period last year, the business posted $4.88 earnings per share. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on NFLX shares. TD Cowen increased their price target on Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Friday. The Goldman Sachs Group increased their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Pivotal Research restated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Morgan Stanley boosted their price objective on Netflix from $1,450.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Wells Fargo & Company upped their price target on Netflix from $1,222.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,269.09.

Insider Buying and Selling at Netflix

In other Netflix news, Director Ann Mather sold 1,090 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was 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 SEC, which is available through this hyperlink. Also, Director Strive Masiyiwa sold 290 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock valued at $223,307,201 over the last 90 days. 1.37% of the stock is owned by insiders.

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.