FineMark National Bank & Trust Raises Stake in Netflix, Inc. (NASDAQ:NFLX)

FineMark National Bank & Trust grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 35.2% during the 4th quarter, HoldingsChannel reports. The fund owned 3,552 shares of the Internet television network’s stock after acquiring an additional 925 shares during the quarter. FineMark National Bank & Trust’s holdings in Netflix were worth $1,729,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Jennison Associates LLC grew its holdings in shares of Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares during the last quarter. Norges Bank bought a new stake in Netflix in the 4th quarter worth $2,558,598,000. Northern Trust Corp increased its position in shares of Netflix by 2.1% in the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock valued at $1,749,712,000 after acquiring an additional 96,938 shares during the period. Fisher Asset Management LLC increased its holdings in Netflix by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after purchasing an additional 78,298 shares during the period. Finally, Clearbridge Investments LLC raised its position in Netflix by 5.3% during the 3rd quarter. Clearbridge Investments LLC now owns 2,783,694 shares of the Internet television network’s stock valued at $1,051,123,000 after purchasing an additional 139,165 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NASDAQ NFLX traded up $14.10 during midday trading on Friday, reaching $649.77. The company had a trading volume of 1,448,158 shares, compared to its average volume of 4,224,958. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $652.00. The stock has a market cap of $280.05 billion, a P/E ratio of 45.13, a P/E/G ratio of 1.38 and a beta of 1.23. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The business’s 50-day simple moving average is $606.78 and its 200 day simple moving average is $547.45.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same period last year, the business posted $2.88 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, analysts forecast that Netflix, Inc. will post 18.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NFLX. Citigroup boosted their target price on Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. Guggenheim lifted their target price on shares of Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Bank of America raised their price objective on Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Pivotal Research increased their target price on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Rosenblatt Securities upped their price target on shares of Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $630.53.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at $15,443.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Ann Mather sold 3,673 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Reed Hastings sold 18,361 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the sale, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $15,443.12. The disclosure for this sale can be found here. Insiders sold a total of 78,039 shares of company stock valued at $46,401,083 over the last 90 days. Insiders own 1.76% of the company’s stock.

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.