Comerica Bank Sells 6,419 Shares of Netflix, Inc. (NASDAQ:NFLX)

Comerica Bank lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 92,597 shares of the Internet television network’s stock after selling 6,419 shares during the period. Comerica Bank’s holdings in Netflix were worth $82,534,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB increased its position in shares of Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after buying an additional 156,958 shares in the last quarter. First National Trust Co raised its holdings in Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after acquiring an additional 12 shares during the period. Haven Private LLC bought a new stake in shares of Netflix in the fourth quarter valued at about $733,000. Sigma Planning Corp grew its holdings in shares of Netflix by 7.4% during the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after purchasing an additional 386 shares in the last quarter. Finally, Quilter Plc boosted its stake in shares of Netflix by 8.2% in the 4th quarter. Quilter Plc now owns 143,757 shares of the Internet television network’s stock valued at $128,133,000 after purchasing an additional 10,946 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Argus upped their target price on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Moffett Nathanson reaffirmed a “buy” rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $1,025.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Morgan Stanley lifted their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $1,072.12.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 41,121 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. This represents a 56.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 640 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $1,097.04, for a total transaction of $702,105.60. The disclosure for this sale can be found here. Insiders sold 274,495 shares of company stock worth $268,176,922 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX opened at $1,125.64 on Wednesday. The firm has a market cap of $479.04 billion, a price-to-earnings ratio of 56.76, a PEG ratio of 2.12 and a beta of 1.55. The business’s 50 day moving average is $959.28 and its two-hundred day moving average is $910.31. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 52-week low of $544.25 and a 52-week high of $1,127.81.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period in the prior year, the company earned $8.28 earnings per share. Analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.