First Commonwealth Financial Corp PA Acquires 19 Shares of Netflix, Inc. (NASDAQ:NFLX)

First Commonwealth Financial Corp PA lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,246 shares of the Internet television network’s stock after purchasing an additional 19 shares during the period. First Commonwealth Financial Corp PA’s holdings in Netflix were worth $884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. DigitalBridge Group Inc. raised its stake in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after buying an additional 9,451 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after acquiring an additional 29,726 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Netflix by 2.0% in the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after purchasing an additional 11,921 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Netflix during the third quarter worth $222,871,000. Finally, Venturi Wealth Management LLC grew its position in Netflix by 27.5% in the third quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock valued at $2,182,000 after purchasing an additional 664 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of recent research reports. Barclays restated an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research note on Friday, October 18th. Evercore ISI increased their price target on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Pivotal Research boosted their price target on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Guggenheim increased their price objective on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Sanford C. Bernstein boosted their target price on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $764.82.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $4.07 during trading on Wednesday, reaching $868.53. 129,274 shares of the company traded hands, compared to its average volume of 3,657,902. Netflix, Inc. has a 52 week low of $445.73 and a 52 week high of $908.00. The company’s 50 day moving average is $762.10 and its two-hundred day moving average is $695.13. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $371.26 billion, a PE ratio of 49.38, a PEG ratio of 1.67 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, sell-side analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 4,392 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. The trade was a 25.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at $57,878.20. This trade represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock worth $133,393,921 over the last three months. Corporate insiders own 1.76% of the company’s stock.

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.