Netflix, Inc. (NASDAQ:NFLX) Stock Holdings Increased by Huntington National Bank

Huntington National Bank increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.1% during the 4th quarter, HoldingsChannel reports. The firm owned 186,533 shares of the Internet television network’s stock after acquiring an additional 5,639 shares during the period. Netflix comprises 1.2% of Huntington National Bank’s holdings, making the stock its 20th largest position. Huntington National Bank’s holdings in Netflix were worth $166,261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NFLX. Vanguard Group Inc. lifted its stake in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after acquiring an additional 171,712 shares during the period. State Street Corp increased its holdings in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Geode Capital Management LLC increased its stake in Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after purchasing an additional 175,596 shares in the last quarter. Norges Bank purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $5,019,087,000. Finally, Alliancebernstein L.P. increased its holdings in shares of Netflix by 1.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network’s stock valued at $4,582,568,000 after purchasing an additional 82,564 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 288,583 shares of company stock worth $279,611,567. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on NFLX. FBN Securities initiated coverage on Netflix in a research note on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 target price on the stock. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Robert W. Baird increased their target price on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Phillip Securities lowered Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Finally, Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.02.

Netflix Stock Down 0.4 %

NASDAQ:NFLX opened at $928.38 on Wednesday. The firm has a market capitalization of $397.12 billion, a price-to-earnings ratio of 46.82, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The stock’s 50 day moving average price is $974.40 and its two-hundred day moving average price is $872.78. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.11 earnings per share. Equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share 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.