Netflix, Inc. (NASDAQ:NFLX) Holdings Raised by M&T Bank Corp

M&T Bank Corp lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,946 shares of the Internet television network’s stock after purchasing an additional 1,684 shares during the quarter. M&T Bank Corp’s holdings in Netflix were worth $29,751,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC raised its position in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares in the last quarter. State Street Corp raised its position in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Jennison Associates LLC increased its stake in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Netflix in the 3rd quarter worth about $222,871,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of analyst reports. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price target on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Loop Capital lifted their price target on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group lifted their price target on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC lifted 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a 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 $783.00.

Netflix Stock Down 0.0 %

NFLX opened at $913.35 on Wednesday. The business has a 50 day moving average price of $797.01 and a 200 day moving average price of $712.57. Netflix, Inc. has a twelve month low of $457.21 and a twelve month high of $935.27. 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 firm has a market cap of $390.42 billion, a P/E ratio of 51.69, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its earnings results 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 firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Transactions at Netflix

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

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.