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

Fifth Third Wealth Advisors LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,844 shares of the Internet television network's stock after buying an additional 1,442 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Netflix were worth $8,247,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital & Planning LLC purchased a new position in Netflix in the fourth quarter worth $809,000. Brighton Jones LLC increased its stake in Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after acquiring an additional 257 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in Netflix in the 4th quarter worth about $12,212,000. Revolve Wealth Partners LLC boosted its holdings in shares of Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after purchasing an additional 144 shares in the last quarter. Finally, Foster & Motley Inc. purchased a new position in shares of Netflix in the 4th quarter worth about $226,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research reports. Loop Capital reiterated a "hold" rating on shares of Netflix in a report on Monday, March 24th. Evercore ISI restated an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. JPMorgan Chase & Co. restated a "neutral" rating and set a $1,220.00 target price (up from $1,150.00) on shares of Netflix in a report on Monday, May 19th. KeyCorp increased their target price on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Finally, Canaccord Genuity Group increased their target price on Netflix from $1,200.00 to $1,380.00 and gave the company a "buy" rating in a report on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and an average target price of $1,122.33.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,402,068.52. The trade was a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 640 shares of Netflix stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1,194.77, for a total value of $764,652.80. The disclosure for this sale can be found here. Insiders have sold a total of 100,262 shares of company stock worth $106,599,765 in the last ninety days. Insiders own 1.37% of the company's stock.

Netflix Stock Performance

Netflix stock traded up $11.75 during midday trading on Monday, reaching $1,218.98. 2,287,791 shares of the company traded hands, compared to its average volume of 3,751,688. The firm has a market capitalization of $518.76 billion, a price-to-earnings ratio of 61.47, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The business has a 50 day moving average of $1,059.27 and a two-hundred day moving average of $976.26. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,219.76. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

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

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.