Fifth Third Bancorp Increases Position in Netflix, Inc. (NASDAQ:NFLX)

Fifth Third Bancorp boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 11.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,872 shares of the Internet television network's stock after purchasing an additional 9,416 shares during the period. Fifth Third Bancorp's holdings in Netflix were worth $87,538,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NFLX. Capital & Planning LLC purchased a new position in Netflix during the 4th quarter valued at about $809,000. Brighton Jones LLC increased its holdings in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Netflix during the 4th quarter valued at about $12,212,000. Revolve Wealth Partners LLC increased its holdings in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after purchasing an additional 144 shares during the period. Finally, Mill Creek Capital Advisors LLC purchased a new position in Netflix during the 4th quarter valued at about $276,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Price Performance

Shares of NFLX traded down $4.85 during midday trading on Thursday, hitting $1,215.03. 2,079,198 shares of the company traded hands, compared to its average volume of 3,762,526. The firm has a 50 day moving average of $1,106.59 and a 200-day moving average of $994.50. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,262.81. The stock has a market cap of $517.08 billion, a price-to-earnings ratio of 61.27, a PEG ratio of 2.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the prior year, the firm earned $8.28 EPS. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on NFLX. Wells Fargo & Company lifted their price objective on Netflix from $1,210.00 to $1,222.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Robert W. Baird lifted their price objective on Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Moffett Nathanson reaffirmed a "buy" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Barclays lifted their price objective on Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a research report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,156.73.

Insider Activity at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the transaction, the director now directly owns 63,040 shares of the company's stock, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,140 shares of company stock valued at $210,271,552. Insiders own 1.37% 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.