Fifth Third Wealth Advisors LLC Increases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Fifth Third Wealth Advisors LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 13.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,918 shares of the Internet television network’s stock after acquiring an additional 832 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Netflix were worth $4,907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. Denver PWM LLC acquired a new position in shares of Netflix during the 2nd quarter worth about $25,000. Proffitt & Goodson Inc. boosted its position in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the period. AlphaMark Advisors LLC grew its position in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Netflix during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at $57,878.20. The trade was a 99.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,277 shares of company stock worth $132,875,601 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Jefferies Financial Group upped their price objective on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Morgan Stanley lifted their price objective on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Wedbush restated an “outperform” rating and set a $950.00 target price (up from $800.00) on shares of Netflix in a report on Monday. Needham & Company LLC boosted their price target on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Macquarie reissued an “outperform” rating and set a $795.00 price target on shares of Netflix in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $753.45.

Netflix Price Performance

NASDAQ:NFLX opened at $847.05 on Tuesday. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $848.45. The firm has a market cap of $362.08 billion, a price-to-earnings ratio of 47.94, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25. The company’s 50-day moving average is $739.20 and its two-hundred day moving average is $683.35. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Research analysts expect that Netflix, Inc. will post 19.78 EPS for the current 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.