M&T Bank Corp Acquires 1,684 Shares of Netflix, Inc. (NASDAQ:NFLX)

M&T Bank Corp increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the 3rd quarter valued at $25,000. Denver PWM LLC purchased a new stake in Netflix during the second quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix in the 3rd quarter worth about $37,000. Finally, FSA Wealth Management LLC bought a new position in shares of Netflix during the 3rd quarter valued at about $38,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,490,250. This represents a 25.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,977 shares of company stock worth $129,317,467. 1.76% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on NFLX shares. Citigroup upped their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Pivotal Research increased their target price on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Wolfe Research reissued an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. The Goldman Sachs Group set a $750.00 price objective on Netflix in a research note on Friday, October 18th. Finally, China Renaissance initiated coverage on Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $807.70.

Netflix Stock Up 0.8 %

Shares of Netflix stock opened at $909.05 on Friday. Netflix, Inc. has a 1 year low of $461.86 and a 1 year high of $941.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The company has a 50-day moving average of $832.76 and a 200 day moving average of $729.15. The firm has a market cap of $388.58 billion, a price-to-earnings ratio of 51.45, a PEG ratio of 1.77 and a beta of 1.27.

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