Fifth Third Bancorp Purchases 2,351 Shares of Netflix, Inc. (NASDAQ:NFLX)

Fifth Third Bancorp raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.9% in the 4th quarter, Holdings Channel reports. The firm owned 84,456 shares of the Internet television network’s stock after acquiring an additional 2,351 shares during the period. Fifth Third Bancorp’s holdings in Netflix were worth $75,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix in the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix during the third quarter worth $37,000. FSA Wealth Management LLC acquired a new stake in shares of Netflix during the 3rd quarter valued at $38,000. Finally, First Personal Financial Services bought a new stake in Netflix during the 3rd quarter worth $40,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on NFLX shares. UBS Group increased their target price on Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday. Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and raised their price objective for the company from $680.00 to $1,494.00 in a report on Wednesday. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Loop Capital raised their price target on shares of Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, KeyCorp boosted their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,009.29.

Netflix Trading Down 0.7 %

Shares of NFLX stock opened at $977.59 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $892.06 and a 200-day moving average of $764.95. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $999.00. The firm has a market cap of $417.88 billion, a P/E ratio of 49.30, a PEG ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.11 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 23.72 earnings per share for the current year.

Insider Activity at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay C. Hoag sold 617 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,117 shares of company stock worth $123,913,691. 1.76% of the stock is owned by corporate insiders.

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.