M&T Bank Corp Has $39.07 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

M&T Bank Corp trimmed its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 41,901 shares of the Internet television network's stock after selling 353 shares during the period. M&T Bank Corp's holdings in Netflix were worth $39,074,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC increased its holdings in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix in the 4th quarter worth about $27,000. Transce3nd LLC purchased a new position in Netflix during the 4th quarter valued at about $32,000. Copia Wealth Management purchased a new position in Netflix during the 4th quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. raised its holdings in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Stock Up 0.1%

NFLX stock traded up $1.69 during mid-day trading on Wednesday, hitting $1,277.00. The stock had a trading volume of 873,524 shares, compared to its average volume of 3,754,269. The company has a fifty day moving average of $1,214.45 and a 200 day moving average of $1,042.85. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15. The stock has a market capitalization of $543.45 billion, a price-to-earnings ratio of 60.40, a PEG ratio of 2.34 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter in the prior year, the company earned $8.28 EPS. On average, equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the subject of several recent research reports. Seaport Res Ptn lowered shares of Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday. Guggenheim restated a "buy" rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Moffett Nathanson restated a "buy" rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Wedbush restated an "outperform" rating and set a $1,200.00 target price on shares of Netflix in a research report on Monday, May 5th. Finally, Phillip Securities raised shares of Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,185.61.

Insider Activity

In other news, Director Reed Hastings sold 9,673 shares of Netflix stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the completion of the sale, the director directly owned 394 shares of the company's stock, valued at approximately $523,669.34. This trade represents a 96.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Strive Masiyiwa sold 290 shares of Netflix stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is currently owned by insiders.

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.