Synovus Financial Corp Has $7.51 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Synovus Financial Corp trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 33.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,423 shares of the Internet television network's stock after selling 4,244 shares during the quarter. Synovus Financial Corp's holdings in Netflix were worth $7,508,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NFLX. Norges Bank bought a new stake in shares of Netflix during the fourth quarter valued at about $5,019,087,000. Proficio Capital Partners LLC raised its position in shares of Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after buying an additional 1,924,423 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after buying an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Netflix by 318.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock worth $870,752,000 after acquiring an additional 743,724 shares during the period. Finally, Strategic Financial Concepts LLC increased its stake in shares of Netflix by 112,896.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network's stock valued at $340,420,000 after acquiring an additional 381,590 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wolfe Research raised Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price target for the company in a research note on Thursday, January 23rd. Guggenheim reaffirmed a "buy" rating and set a $1,100.00 target price on shares of Netflix in a report on Thursday, April 3rd. Needham & Company LLC upped their price target on shares of Netflix from $800.00 to $1,150.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Netflix from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Finally, Rosenblatt Securities upgraded shares of Netflix from a "neutral" rating to a "buy" rating and raised their target price for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,021.31.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 25,360 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares in the company, valued at $362,933.10. The trade was a 98.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jay C. Hoag sold 617 shares of the company's stock in a transaction that occurred 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. Insiders have sold a total of 274,312 shares of company stock valued at $267,919,297 in the last three months. Company insiders own 1.76% of the company's stock.

Netflix Stock Up 4.8 %

Shares of NASDAQ NFLX traded up $45.00 during mid-day trading on Tuesday, reaching $976.28. 7,674,299 shares of the company traded hands, compared to its average volume of 3,710,195. The company's fifty day moving average is $958.50 and its two-hundred day moving average is $887.03. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The stock has a market cap of $417.61 billion, a PE ratio of 49.23, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts' consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.11 earnings per share. On average, analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.