Suntrust Banks Inc. raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 52.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,045 shares of the Internet television network’s stock after purchasing an additional 15,417 shares during the quarter. Suntrust Banks Inc.’s holdings in Netflix were worth $13,303,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of NFLX. James Hambro & Partners acquired a new position in shares of Netflix in the 4th quarter worth approximately $106,000. Wagner Wealth Management LLC acquired a new position in shares of Netflix in the 4th quarter worth approximately $125,000. Braun Bostich & Associates Inc. acquired a new position in shares of Netflix in the 1st quarter worth approximately $142,000. TCI Wealth Advisors Inc. grew its position in shares of Netflix by 710.8% in the 1st quarter. TCI Wealth Advisors Inc. now owns 527 shares of the Internet television network’s stock worth $156,000 after acquiring an additional 462 shares in the last quarter. Finally, Whittier Trust Co. grew its position in shares of Netflix by 91.4% in the 1st quarter. Whittier Trust Co. now owns 536 shares of the Internet television network’s stock worth $158,000 after acquiring an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.
Shares of Netflix opened at $411.09 on Friday, Marketbeat Ratings reports. Netflix, Inc. has a 1 year low of $144.25 and a 1 year high of $423.21. The firm has a market cap of $180.59 billion, a PE ratio of 328.87, a PEG ratio of 5.40 and a beta of 1.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.30 and a current ratio of 1.30.
Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, April 16th. The Internet television network reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Netflix had a return on equity of 19.11% and a net margin of 5.26%. The company’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. research analysts expect that Netflix, Inc. will post 2.89 earnings per share for the current year.
Several brokerages have recently commented on NFLX. Credit Suisse Group reiterated a “neutral” rating and issued a $330.00 target price on shares of Netflix in a research report on Thursday. ValuEngine upgraded Netflix from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Piper Jaffray Companies lifted their target price on Netflix from $367.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday. Monness Crespi & Hardt lifted their target price on Netflix from $375.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Oppenheimer reiterated a “buy” rating and issued a $370.00 target price on shares of Netflix in a research report on Thursday, June 14th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Netflix currently has an average rating of “Buy” and an average target price of $300.45.
In related news, CEO Reed Hastings sold 75,558 shares of Netflix stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $324.71, for a total value of $24,534,438.18. Following the transaction, the chief executive officer now directly owns 75,558 shares in the company, valued at approximately $24,534,438.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 700 shares of Netflix stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $283.39, for a total value of $198,373.00. Following the completion of the transaction, the director now owns 7,393 shares in the company, valued at $2,095,102.27. The disclosure for this sale can be found here. Insiders sold a total of 287,982 shares of company stock worth $102,435,098 over the last 90 days. Insiders own 4.29% of the company’s stock.
Netflix Company Profile
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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