Zions Bancorporation National Association UT Makes New $12.92 Million Investment in Netflix, Inc. (NASDAQ:NFLX)

Zions Bancorporation National Association UT acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 13,856 shares of the Internet television network's stock, valued at approximately $12,921,000. Netflix makes up approximately 0.8% of Zions Bancorporation National Association UT's holdings, making the stock its 14th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of NFLX. Fullcircle Wealth LLC increased its position in shares of Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after purchasing an additional 9 shares during the last quarter. Mission Creek Capital Partners Inc. increased its holdings in Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after buying an additional 10 shares during the last quarter. Continuum Wealth Advisors LLC raised its position in Netflix by 4.4% during the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after acquiring an additional 10 shares in the last quarter. Financial Enhancement Group LLC lifted its stake in Netflix by 2.5% in the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock valued at $384,000 after acquiring an additional 10 shares during the last quarter. Finally, Saxony Capital Management LLC grew its holdings in Netflix by 1.4% during the first quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock worth $659,000 after purchasing an additional 10 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,824,949.02. The trade was a 41.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction 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 directly owned 7,969 shares of the company's stock, valued at approximately $8,959,227.94. The trade was a 32.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,226 shares of company stock worth $183,849,784 over the last three months. 1.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NFLX shares. Wolfe Research set a $1,340.00 price target on Netflix and gave the company an "outperform" rating in a research note on Friday, May 16th. Barclays restated a "sell" rating and set a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Wedbush reissued an "outperform" rating and issued a $1,500.00 price target (up from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Finally, Wall Street Zen raised Netflix from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Trading Up 0.2%

NASDAQ NFLX opened at $1,180.37 on Friday. Netflix, Inc. has a one year low of $616.02 and a one year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The business has a 50 day simple moving average of $1,232.06 and a 200 day simple moving average of $1,091.12. The stock has a market capitalization of $501.57 billion, a P/E ratio of 50.29, a P/E/G ratio of 1.98 and a beta of 1.59.

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 (EPS) for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. Netflix's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.88 EPS. Research analysts expect that Netflix, Inc. will post 24.58 earnings per share 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.

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