M&T Bank Corp Has $29.75 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

M&T Bank Corp increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,946 shares of the Internet television network’s stock after acquiring an additional 1,684 shares during the quarter. M&T Bank Corp’s holdings in Netflix were worth $29,751,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NFLX. Hohimer Wealth Management LLC boosted its stake in shares of Netflix by 3.6% in the 3rd quarter. Hohimer Wealth Management LLC now owns 1,542 shares of the Internet television network’s stock valued at $1,094,000 after purchasing an additional 54 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in Netflix by 4.7% during the third quarter. Rehmann Capital Advisory Group now owns 2,743 shares of the Internet television network’s stock valued at $1,946,000 after acquiring an additional 123 shares during the last quarter. TD Private Client Wealth LLC boosted its position in Netflix by 3.2% during the third quarter. TD Private Client Wealth LLC now owns 3,921 shares of the Internet television network’s stock valued at $2,781,000 after acquiring an additional 121 shares during the last quarter. Hobbs Group Advisors LLC grew its holdings in Netflix by 1,283.3% during the 3rd quarter. Hobbs Group Advisors LLC now owns 83 shares of the Internet television network’s stock worth $59,000 after acquiring an additional 77 shares during the period. Finally, Fortem Financial Group LLC raised its position in shares of Netflix by 5.8% in the 3rd quarter. Fortem Financial Group LLC now owns 380 shares of the Internet television network’s stock worth $270,000 after acquiring an additional 21 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NFLX shares. UBS Group upped their target price on Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday. Sanford C. Bernstein increased their price target on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 price objective (up previously from $770.00) on shares of Netflix in a research note on Friday, October 18th. Evercore ISI increased their target price on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Wolfe Research restated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $807.70.

Netflix Stock Up 0.8 %

Netflix stock opened at $909.05 on Friday. The firm has a 50 day moving average price of $832.76 and a 200-day moving average price of $729.15. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $461.86 and a twelve month high of $941.75. The company has a market capitalization of $388.58 billion, a P/E ratio of 51.45, a P/E/G ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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 business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Buying and Selling

In other news, insider David A. Hyman sold 267 shares of the firm’s 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 completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $3,184,200.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,490,250. The trade was a 25.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,977 shares of company stock valued at $129,317,467. 1.76% of the stock is 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.