Wesbanco Bank Inc. Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Wesbanco Bank Inc. grew its holdings in Netflix, Inc. (NASDAQ:NFLX) by 14.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,524 shares of the Internet television network’s stock after acquiring an additional 1,462 shares during the quarter. Wesbanco Bank Inc.’s holdings in Netflix were worth $10,746,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Priebe Wealth Holdings LLC purchased a new position in shares of Netflix in the 1st quarter valued at about $201,000. 25 LLC purchased a new position in Netflix during the 1st quarter worth approximately $210,000. Abacus Planning Group Inc. grew its stake in Netflix by 5.7% during the 1st quarter. Abacus Planning Group Inc. now owns 597 shares of the Internet television network’s stock worth $557,000 after buying an additional 32 shares during the last quarter. Capital Investment Advisors LLC grew its stake in Netflix by 77.5% during the 1st quarter. Capital Investment Advisors LLC now owns 3,904 shares of the Internet television network’s stock worth $3,640,000 after buying an additional 1,705 shares during the last quarter. Finally, Bennett Selby Investments LP grew its stake in Netflix by 3.2% during the 1st quarter. Bennett Selby Investments LP now owns 5,860 shares of the Internet television network’s stock worth $5,465,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Netflix news, Director Ann Mather sold 1,090 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total value of $1,362,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cletus R. Willems sold 298 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total value of $339,124.00. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $35,972,180. This represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 153,390 shares of company stock worth $170,509,439 in the last 90 days. 1.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research reports. Robert W. Baird raised their price target on Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Moffett Nathanson restated a “buy” rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Rosenblatt Securities raised their price target on Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Wedbush restated an “outperform” rating and set a $1,200.00 price target on shares of Netflix in a research note on Monday, May 5th. Finally, Benchmark restated a “hold” rating on shares of Netflix in a research note on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,149.91.

Netflix Trading Down 0.7%

Shares of NFLX opened at $1,241.47 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,262.81. The stock has a market cap of $528.33 billion, a PE ratio of 62.61, a P/E/G ratio of 2.12 and a beta of 1.59. The stock’s 50-day moving average is $1,087.80 and its two-hundred day moving average is $989.18.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business earned $8.28 EPS. Equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.