Wesbanco Bank Inc. Increases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Wesbanco Bank Inc. lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 12.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,062 shares of the Internet television network’s stock after acquiring an additional 1,083 shares during the period. Wesbanco Bank Inc.’s holdings in Netflix were worth $8,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in Netflix in the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Netflix in the 3rd quarter valued at approximately $37,000. FSA Wealth Management LLC acquired a new stake in Netflix in the 3rd quarter valued at approximately $38,000. Finally, First Personal Financial Services acquired a new position in shares of Netflix in the third quarter worth $40,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on NFLX shares. Jefferies Financial Group boosted their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and increased their price target for the stock from $940.00 to $1,150.00 in a report on Wednesday. KeyCorp upped their target price on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday. Loop Capital upped their target price on shares of Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $1,175.00 price target (up from $1,000.00) on shares of Netflix in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $993.82.

Netflix Trading Up 9.7 %

NASDAQ NFLX opened at $953.99 on Thursday. Netflix, Inc. has a 1-year low of $481.40 and a 1-year high of $999.00. The firm has a market cap of $407.79 billion, a PE ratio of 48.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. 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 $886.64 and a 200-day moving average of $762.07.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.11 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 23.43 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 5,698 shares of Netflix stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the transaction, the director now directly owns 246 shares in the company, valued at approximately $185,976. The trade was a 95.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,198 shares of company stock valued at $127,616,898. 1.76% of the stock is owned by company insiders.

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.