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

Comerica Bank lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor 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.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. West Michigan Advisors LLC grew its position in shares of Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after buying an additional 10 shares in the last quarter. Warwick Investment Management Inc. grew its stake in Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after buying an additional 10 shares during the last quarter. MRP Capital Investments LLC increased its stake in Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after purchasing an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC raised its stake in Netflix by 2.2% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after acquiring an additional 10 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. lifted its holdings in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock worth $3,410,000 after purchasing an additional 10 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Jeffrey William Karbowski sold 640 shares of the company’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $1,097.04, for a total transaction of $702,105.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann Mather sold 2,682 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. Insiders sold 274,495 shares of company stock valued at $268,176,922 in the last ninety days. Insiders own 1.76% of the company’s stock.

Netflix Trading Up 1.4 %

Shares of NASDAQ NFLX opened at $1,125.64 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $479.04 billion, a PE ratio of 56.76, a PEG ratio of 2.12 and a beta of 1.55. The stock has a fifty day simple moving average of $959.28 and a 200-day simple moving average of $910.31. Netflix, Inc. has a twelve month low of $544.25 and a twelve month high of $1,127.81.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the previous year, the firm posted $8.28 EPS. On average, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent research reports. Argus lifted their target price on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Barclays increased their target price on Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Monday, April 21st. FBN Securities started coverage on shares of Netflix in a report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price objective on the stock. Benchmark reissued a “hold” rating on shares of Netflix in a research note on Monday, April 21st. Finally, The Goldman Sachs Group lifted their price objective on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,072.12.

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.