Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,246 shares of the Internet television network’s stock after acquiring an additional 19 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Netflix were worth $884,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jennison Associates LLC grew its position in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares in the last quarter. International Assets Investment Management LLC lifted its position in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Baillie Gifford & Co. boosted its stake in Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after purchasing an additional 106,756 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Netflix by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock valued at $3,178,905,000 after purchasing an additional 123,987 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Netflix by 3.1% in the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after buying an additional 104,332 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Netflix stock traded down $4.07 during trading hours on Wednesday, reaching $868.53. 129,274 shares of the company were exchanged, compared to its average volume of 3,657,902. Netflix, Inc. has a 12 month low of $445.73 and a 12 month high of $908.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $762.10 and a 200 day moving average of $695.13. The firm has a market cap of $371.26 billion, a price-to-earnings ratio of 49.38, a PEG ratio of 1.67 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on NFLX. Benchmark reiterated a “sell” rating and issued a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. Piper Sandler reiterated an “overweight” rating and issued a $840.00 target price (up from $800.00) on shares of Netflix in a report on Friday, October 18th. The Goldman Sachs Group set a $750.00 target price on shares of Netflix in a research note on Friday, October 18th. Macquarie restated an “outperform” rating and issued a $795.00 price target on shares of Netflix in a research report on Friday, October 18th. Finally, TD Cowen increased their price objective on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $764.82.

Insider Transactions at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,866 shares of company stock worth $133,393,921. Company insiders own 1.76% of the company’s stock.

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.