United Bank Purchases Shares of 235 Netflix, Inc. (NASDAQ:NFLX)

United Bank acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 235 shares of the Internet television network's stock, valued at approximately $219,000.

Several other large investors have also modified their holdings of the business. FMR LLC raised its stake in Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after buying an additional 375,234 shares in the last quarter. Geode Capital Management LLC grew its holdings in Netflix by 1.9% in the fourth 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 during the last quarter. GAMMA Investing LLC grew its holdings in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Norges Bank purchased a new position in Netflix in the fourth quarter worth $5,019,087,000. Finally, Alliancebernstein L.P. grew its holdings in Netflix by 1.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network's stock worth $4,582,568,000 after purchasing an additional 82,564 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Activity at Netflix

In related news, Director Jay C. Hoag sold 32,515 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the transaction, the director owned 79,040 shares in the company, valued at $87,099,708.80. This represents a 29.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the sale, the director owned 7,969 shares in the company, valued at $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,563 shares of company stock worth $223,147,201. 1.37% of the stock is owned by insiders.

Netflix Price Performance

Shares of NFLX stock traded down $23.66 during midday trading on Tuesday, reaching $1,209.61. 1,546,756 shares of the company were exchanged, compared to its average volume of 4,290,708. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The company has a market cap of $514.77 billion, a P/E ratio of 51.54, a PEG ratio of 2.15 and a beta of 1.59. The company's 50 day moving average price is $1,232.59 and its two-hundred day moving average price is $1,063.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period last year, the firm posted $4.88 earnings per share. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NFLX. Citigroup reissued a "neutral" rating and set a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Cfra Research raised shares of Netflix to a "strong-buy" rating in a report on Monday, April 28th. Robert W. Baird upped their price target on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a report on Monday. Finally, Wells Fargo & Company increased their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

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.

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