Netflix, Inc. (NFLX) Stake Lowered by M&T Bank Corp

M&T Bank Corp cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 11.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 26,441 shares of the Internet television network’s stock after selling 3,340 shares during the period. M&T Bank Corp’s holdings in Netflix were worth $3,909,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clean Yield Group purchased a new position in shares of Netflix during the first quarter valued at about $103,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of Netflix by 24.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock valued at $114,000 after buying an additional 150 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Netflix during the fourth quarter valued at about $114,000. CENTRAL TRUST Co boosted its position in shares of Netflix by 408.4% in the first quarter. CENTRAL TRUST Co now owns 849 shares of the Internet television network’s stock valued at $125,000 after buying an additional 682 shares in the last quarter. Finally, Intellectus Partners LLC purchased a new position in shares of Netflix during the fourth quarter valued at about $117,000. Hedge funds and other institutional investors own 80.42% of the company’s stock.

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ NFLX) traded down 0.3513% during trading on Friday, hitting $165.2973. The stock had a trading volume of 719,170 shares. The company has a market cap of $71.24 billion, a P/E ratio of 213.8387 and a beta of 1.27. Netflix, Inc. has a one year low of $84.50 and a one year high of $166.87. The firm has a 50 day moving average of $157.43 and a 200-day moving average of $141.34.

Netflix (NASDAQ:NFLX) last released its earnings results on Monday, April 17th. The Internet television network reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Netflix had a return on equity of 7.51% and a net margin of 2.11%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the firm posted $0.06 EPS. Netflix’s revenue for the quarter was up 34.7% on a year-over-year basis. Equities analysts anticipate that Netflix, Inc. will post $1.04 earnings per share for the current fiscal year.

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Several brokerages have recently issued reports on NFLX. Sanford C. Bernstein restated a “buy” rating and issued a $178.00 target price on shares of Netflix in a report on Wednesday, May 31st. MKM Partners restated a “buy” rating and issued a $195.00 target price (up previously from $175.00) on shares of Netflix in a report on Monday, May 29th. Cantor Fitzgerald raised their target price on shares of Netflix from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday. Canaccord Genuity restated a “buy” rating and issued a $165.00 target price on shares of Netflix in a report on Thursday, May 25th. Finally, Instinet restated a “buy” rating on shares of Netflix in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $148.16.

In related news, CEO Reed Hastings sold 91,994 shares of the business’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $140.97, for a total transaction of $12,968,394.18. Following the completion of the transaction, the chief executive officer now directly owns 91,994 shares of the company’s stock, valued at approximately $12,968,394.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory K. Peters sold 6,853 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $164.29, for a total value of $1,125,879.37. Following the transaction, the insider now directly owns 19,943 shares of the company’s stock, valued at $3,276,435.47. The disclosure for this sale can be found here. Insiders have sold a total of 408,518 shares of company stock valued at $61,496,953 over the last three months. 4.90% of the stock is currently owned by insiders.

Netflix Company Profile

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:NFLX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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