Commerce Bank Has $16.72 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Commerce Bank increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,570 shares of the Internet television network's stock after purchasing an additional 1,621 shares during the quarter. Commerce Bank's holdings in Netflix were worth $16,717,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. New World Advisors LLC raised its stake in shares of Netflix by 2.0% in the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network's stock valued at $514,000 after acquiring an additional 14 shares during the last quarter. Heartland Bank & Trust Co raised its position in Netflix by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network's stock valued at $1,195,000 after purchasing an additional 15 shares during the last quarter. Cedrus LLC boosted its stake in Netflix by 0.8% in the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network's stock worth $1,263,000 after purchasing an additional 15 shares in the last quarter. Capstone Triton Financial Group LLC increased its stake in shares of Netflix by 0.6% in the third quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network's stock valued at $1,717,000 after buying an additional 15 shares in the last quarter. Finally, Meritas Wealth Management LLC raised its holdings in shares of Netflix by 2.9% in the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network's stock valued at $406,000 after buying an additional 16 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the sale, the chairman now owns 85 shares in the company, valued at $57,878.20. This represents a 99.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jay C. Hoag sold 43,750 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares of the company's stock, valued at approximately $65,299,132.80. The trade was a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,866 shares of company stock worth $133,393,921. Insiders own 1.76% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NFLX. Macquarie reaffirmed an "outperform" rating and issued a $795.00 target price on shares of Netflix in a research note on Friday, October 18th. Needham & Company LLC increased their price objective on Netflix from $700.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Jefferies Financial Group lifted their target price on Netflix from $780.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, October 18th. KeyCorp raised their price target on Netflix from $760.00 to $785.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Finally, Canaccord Genuity Group boosted their price target on shares of Netflix from $750.00 to $760.00 and gave the stock a "hold" rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and a consensus price target of $764.82.

Netflix Trading Up 1.4 %

Shares of Netflix stock opened at $883.85 on Thursday. The stock has a market cap of $377.81 billion, a P/E ratio of 50.02, a P/E/G ratio of 1.68 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $890.60. The business's 50 day moving average is $747.20 and its 200-day moving average is $686.80.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Equities research analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current fiscal 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.