City Holding Co. Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

City Holding Co. increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 29.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,873 shares of the Internet television network’s stock after buying an additional 654 shares during the quarter. City Holding Co.’s holdings in Netflix were worth $2,561,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Grove Bank & Trust lifted its holdings in shares of Netflix by 5.3% during the fourth quarter. Grove Bank & Trust now owns 4,215 shares of the Internet television network’s stock worth $3,757,000 after purchasing an additional 213 shares during the period. Brady Martz Wealth Solutions LLC acquired a new stake in shares of Netflix in the fourth quarter worth $883,000. Bernardo Wealth Planning LLC increased its stake in shares of Netflix by 3.6% in the fourth quarter. Bernardo Wealth Planning LLC now owns 518 shares of the Internet television network’s stock worth $434,000 after acquiring an additional 18 shares during the period. My Legacy Advisors LLC lifted its position in Netflix by 7.8% during the fourth quarter. My Legacy Advisors LLC now owns 666 shares of the Internet television network’s stock valued at $565,000 after purchasing an additional 48 shares during the period. Finally, Maiden Cove Capital LLC acquired a new position in Netflix during the fourth quarter valued at $255,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NFLX has been the subject of a number of recent research reports. KeyCorp lifted their price objective on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. The Goldman Sachs Group boosted their price target on Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Loop Capital dropped their price objective on shares of Netflix from $950.00 to $925.00 and set a “hold” rating on the stock in a research note on Thursday. Jefferies Financial Group boosted their target price on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Wedbush restated an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a research report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $845.06.

Netflix Price Performance

NFLX stock opened at $858.10 on Monday. The business has a fifty day moving average of $884.58 and a two-hundred day moving average of $759.04. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap of $366.80 billion, a price-to-earnings ratio of 48.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a 52-week low of $476.06 and a 52-week high of $941.75.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. As a group, research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the completion of the transaction, the director now directly owns 246 shares of the company’s stock, valued at $185,976. The trade was a 95.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. The trade was a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,198 shares of company stock valued at $127,616,898 over the last quarter. 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.