Netflix, Inc. (NASDAQ:NFLX) Position Increased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 19.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,002 shares of the Internet television network’s stock after acquiring an additional 329 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Netflix were worth $1,216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NFLX. Dark Forest Capital Management LP grew its holdings in shares of Netflix by 119.6% during the third quarter. Dark Forest Capital Management LP now owns 1,212 shares of the Internet television network’s stock valued at $458,000 after buying an additional 660 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Netflix by 12.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,161 shares of the Internet television network’s stock valued at $816,000 after purchasing an additional 232 shares during the period. Operose Advisors LLC lifted its position in shares of Netflix by 52.6% in the third quarter. Operose Advisors LLC now owns 261 shares of the Internet television network’s stock worth $99,000 after purchasing an additional 90 shares in the last quarter. Mckinley Capital Management LLC acquired a new stake in shares of Netflix during the third quarter worth approximately $745,000. Finally, Valley National Advisers Inc. grew its position in Netflix by 7.1% during the third quarter. Valley National Advisers Inc. now owns 500 shares of the Internet television network’s stock valued at $189,000 after purchasing an additional 33 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $8,835,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The disclosure for this sale can be found here. Insiders have sold a total of 69,425 shares of company stock valued at $41,919,791 in the last 90 days. 1.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research analyst reports. Evercore ISI boosted their price target on shares of Netflix from $650.00 to $700.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. TD Cowen boosted their price target on Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Rosenblatt Securities increased their price target on shares of Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a research note on Friday, May 17th. Wedbush reaffirmed an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research note on Monday, May 20th. Finally, JPMorgan Chase & Co. boosted their price target on Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $633.53.

Netflix Trading Down 1.4 %

Shares of NFLX stock traded down $9.46 on Friday, reaching $674.88. 3,039,948 shares of the stock were exchanged, compared to its average volume of 3,989,034. The stock has a 50 day moving average price of $625.06 and a 200 day moving average price of $581.29. The stock has a market cap of $290.87 billion, a PE ratio of 47.45, a P/E/G ratio of 1.46 and a beta of 1.26. Netflix, Inc. has a one year low of $344.73 and a one year high of $689.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter last year, the firm earned $2.88 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts forecast that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

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.