City Holding Co. Acquires 2,120 Shares of Netflix, Inc. (NASDAQ:NFLX)

City Holding Co. increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2,141.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,219 shares of the Internet television network’s stock after purchasing an additional 2,120 shares during the period. City Holding Co.’s holdings in Netflix were worth $1,574,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of Netflix during the first quarter valued at about $1,450,476,000. Jennison Associates LLC boosted its holdings in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares in the last quarter. Global Assets Advisory LLC purchased a new position in shares of Netflix in the 1st quarter worth approximately $436,514,000. Finally, Jericho Capital Asset Management L.P. bought a new position in shares of Netflix during the 1st quarter worth approximately $372,293,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Up 2.8 %

Shares of NFLX stock opened at $721.76 on Wednesday. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $725.26. The company has a market cap of $311.08 billion, a price-to-earnings ratio of 50.09, a PEG ratio of 1.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50 day simple moving average of $678.35 and a 200-day simple moving average of $648.76.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the prior year, the business posted $3.29 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities research analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the transaction, the chairman now owns 57 shares in the company, valued at $35,991.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,784 shares of company stock valued at $150,212,870. 1.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. KeyCorp raised their target price on shares of Netflix from $735.00 to $760.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein raised their price objective on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Bank of America upped their target price on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research report on Monday, July 15th. UBS Group raised their price target on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Morgan Stanley upped their price objective on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $691.76.

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.