First Horizon Advisors Inc. Boosts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

First Horizon Advisors Inc. increased its position in Netflix, Inc. (NASDAQ:NFLX) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,987 shares of the Internet television network’s stock after acquiring an additional 155 shares during the period. First Horizon Advisors Inc.’s holdings in Netflix were worth $1,409,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Howe & Rusling Inc. boosted its holdings in shares of Netflix by 17.0% during the 3rd quarter. Howe & Rusling Inc. now owns 668 shares of the Internet television network’s stock valued at $474,000 after acquiring an additional 97 shares during the last quarter. Jennison Associates LLC boosted its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Commerce Bank grew its position in Netflix by 7.4% in the 3rd quarter. Commerce Bank now owns 23,570 shares of the Internet television network’s stock worth $16,717,000 after purchasing an additional 1,621 shares during the period. Strategy Asset Managers LLC purchased a new stake in Netflix during the 3rd quarter valued at $378,000. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Netflix in the 3rd quarter worth $28,966,000. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 1.4 %

Shares of NASDAQ NFLX opened at $896.05 on Friday. The stock has a market capitalization of $383.03 billion, a P/E ratio of 50.71, a PEG ratio of 1.68 and a beta of 1.25. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $908.00. The business’s 50 day moving average is $751.39 and its two-hundred day moving average is $688.25. 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 (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, research analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on NFLX. Wells Fargo & Company increased their target price on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Needham & Company LLC lifted their price target on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, UBS Group upped their price objective on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $764.82.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,866 shares of company stock worth $133,393,921. 1.76% of the stock is currently owned by 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.