M&T Bank Corp Grows Stock Position in Netflix, Inc. (NASDAQ:NFLX)

M&T Bank Corp raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,946 shares of the Internet television network's stock after purchasing an additional 1,684 shares during the period. M&T Bank Corp's holdings in Netflix were worth $29,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in NFLX. Hohimer Wealth Management LLC raised its holdings in shares of Netflix by 3.6% in the 3rd quarter. Hohimer Wealth Management LLC now owns 1,542 shares of the Internet television network's stock valued at $1,094,000 after purchasing an additional 54 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in Netflix by 4.7% during the 3rd quarter. Rehmann Capital Advisory Group now owns 2,743 shares of the Internet television network's stock worth $1,946,000 after buying an additional 123 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of Netflix by 3.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 3,921 shares of the Internet television network's stock worth $2,781,000 after acquiring an additional 121 shares in the last quarter. Hobbs Group Advisors LLC increased its holdings in shares of Netflix by 1,283.3% in the 3rd quarter. Hobbs Group Advisors LLC now owns 83 shares of the Internet television network's stock valued at $59,000 after acquiring an additional 77 shares during the last quarter. Finally, Fortem Financial Group LLC raised its position in shares of Netflix by 5.8% during the 3rd quarter. Fortem Financial Group LLC now owns 380 shares of the Internet television network's stock worth $270,000 after acquiring an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NFLX. Rosenblatt Securities increased their price target on shares of Netflix from $635.00 to $680.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Benchmark reiterated a "sell" rating and set a $545.00 price target on shares of Netflix in a research note on Tuesday, October 15th. Wedbush restated an "outperform" rating and issued a $950.00 price objective (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. Loop Capital cut Netflix from a "buy" rating to a "hold" rating and lifted their target price for the stock from $800.00 to $950.00 in a research report on Monday, December 16th. Finally, Jefferies Financial Group upped their target price on Netflix from $780.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $807.70.

Netflix Price Performance

Netflix stock traded up $7.01 during mid-day trading on Friday, reaching $909.05. The company had a trading volume of 4,502,215 shares, compared to its average volume of 3,612,703. The stock's 50-day simple moving average is $832.76 and its 200-day simple moving average is $729.15. The company has a market capitalization of $388.58 billion, a P/E ratio of 51.45, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a 1 year low of $461.86 and a 1 year high of $941.75.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 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 business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. On average, equities analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Activity

In other news, Director Timothy M. Haley sold 11,090 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the sale, the chief executive officer now owns 13,090 shares of the company's stock, valued at approximately $9,490,250. This represents a 25.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,977 shares of company stock worth $129,317,467 over the last ninety days. 1.76% of the stock is currently owned by insiders.

Netflix Company 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.