Texas Capital Bank Wealth Management Services Inc Takes $248,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Texas Capital Bank Wealth Management Services Inc acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 3rd quarter, Holdings Channel reports. The firm acquired 349 shares of the Internet television network’s stock, valued at approximately $248,000.

Several other hedge funds also recently modified their holdings of NFLX. MJP Associates Inc. ADV increased its position in shares of Netflix by 17.1% during the second quarter. MJP Associates Inc. ADV now owns 693 shares of the Internet television network’s stock valued at $468,000 after buying an additional 101 shares during the period. Quad Cities Investment Group LLC increased its position in shares of Netflix by 33.3% in the second quarter. Quad Cities Investment Group LLC now owns 472 shares of the Internet television network’s stock worth $319,000 after purchasing an additional 118 shares during the last quarter. Czech National Bank increased its position in shares of Netflix by 7.8% in the second quarter. Czech National Bank now owns 82,113 shares of the Internet television network’s stock worth $55,416,000 after purchasing an additional 5,969 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Netflix by 6.0% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,024 shares of the Internet television network’s stock worth $2,040,000 after buying an additional 170 shares in the last quarter. Finally, Mogy Joel R Investment Counsel Inc. boosted its stake in Netflix by 3.1% in the second quarter. Mogy Joel R Investment Counsel Inc. now owns 22,353 shares of the Internet television network’s stock worth $15,086,000 after buying an additional 677 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NFLX stock opened at $934.74 on Friday. Netflix, Inc. has a 1 year low of $448.32 and a 1 year high of $935.27. The stock’s fifty day moving average is $788.37 and its two-hundred day moving average is $707.66. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $399.56 billion, a price-to-earnings ratio of 52.90, a PEG ratio of 1.76 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. On average, research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the transaction, the director now owns 95,040 shares of the company’s stock, valued at $65,299,132.80. This trade represents a 31.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 209,155 shares of company stock valued at $159,682,799 over the last three months. 1.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Oppenheimer increased their target price on shares of Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their target price on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Guggenheim increased their target price on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC upped their price target on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Bank of America increased their target price on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $783.00.

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.