Comerica Bank Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Comerica Bank lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,597 shares of the Internet television network's stock after selling 6,419 shares during the period. Comerica Bank's holdings in Netflix were worth $82,534,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Bridgewealth Advisory Group LLC purchased a new position in shares of Netflix during the 4th quarter worth $286,000. Kapitalo Investimentos Ltda purchased a new position in shares of Netflix during the 4th quarter worth $84,000. Voleon Capital Management LP purchased a new position in shares of Netflix during the 4th quarter worth $923,000. Utah Retirement Systems boosted its stake in shares of Netflix by 0.3% during the 4th quarter. Utah Retirement Systems now owns 71,024 shares of the Internet television network's stock worth $63,305,000 after acquiring an additional 221 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its stake in shares of Netflix by 30.2% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 819,000 shares of the Internet television network's stock worth $729,991,000 after acquiring an additional 190,000 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Insider Activity

In other news, Chairman Reed Hastings sold 32,067 shares of Netflix stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $978.39, for a total value of $31,374,032.13. Following the transaction, the chairman now directly owns 349 shares in the company, valued at approximately $341,458.11. This trade represents a 98.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,181 shares of company stock worth $153,232,778. 1.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NFLX. Robert W. Baird upped their target price on shares of Netflix from $875.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Wednesday, January 22nd. Moffett Nathanson reaffirmed a "buy" rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Wells Fargo & Company increased their target price on Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. The Goldman Sachs Group increased their target price on Netflix from $850.00 to $960.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their target price on Netflix from $1,025.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,072.12.

Netflix Trading Up 0.2 %

Shares of NFLX stock traded up $1.75 on Thursday, reaching $1,133.47. 3,491,390 shares of the company's stock were exchanged, compared to its average volume of 3,717,565. Netflix, Inc. has a 52 week low of $555.59 and a 52 week high of $1,142.19. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $482.37 billion, a PE ratio of 57.16, a P/E/G ratio of 2.12 and a beta of 1.55. The company's fifty day simple moving average is $964.76 and its 200 day simple moving average is $914.74.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the previous year, the company posted $8.28 EPS. As a group, analysts forecast that Netflix, Inc. will post 24.58 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.