Netflix, Inc. (NASDAQ:NFLX) Shares Bought by City Holding Co.

City Holding Co. lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,375 shares of the Internet television network’s stock after acquiring an additional 502 shares during the period. City Holding Co.’s holdings in Netflix were worth $3,147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NFLX. Pathway Financial Advisers LLC boosted its stake in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the period. Brown Shipley& Co Ltd acquired a new position in shares of Netflix during the fourth quarter worth approximately $27,000. Transce3nd LLC acquired a new stake in Netflix in the 4th quarter valued at approximately $32,000. Pineridge Advisors LLC grew its stake in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares in the last quarter. Finally, Copia Wealth Management bought a new stake in shares of Netflix during the 4th quarter worth about $37,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Down 0.7%

Netflix stock opened at $1,241.47 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.81. The firm’s fifty day simple moving average is $1,087.80 and its 200-day simple moving average is $989.18. The company has a market capitalization of $528.33 billion, a P/E ratio of 62.61, a P/E/G ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last posted 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same period last year, the company earned $8.28 earnings per share. Sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Bradford L. Smith sold 3,919 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 7,969 shares of the company’s stock, valued at approximately $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 1,358 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,390 shares of company stock valued at $170,509,439. 1.37% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on NFLX. Robert W. Baird upped their price objective on Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Barclays upped their price target on shares of Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Monday, April 21st. Cfra Research raised shares of Netflix to a “strong-buy” rating in a research note on Monday, April 28th. Phillip Securities upgraded shares of Netflix from a “moderate sell” rating to a “hold” rating in a report on Monday, April 21st. Finally, Canaccord Genuity Group upped their price target 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 equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $1,149.91.

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.