First Merchants Corp Has $403,000 Position in Netflix, Inc. (NASDAQ:NFLX)

First Merchants Corp increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452 shares of the Internet television network’s stock after purchasing an additional 50 shares during the quarter. First Merchants Corp’s holdings in Netflix were worth $403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NFLX. State Street Corp boosted its holdings in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC raised its position in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares during the period. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. Jefferies Financial Group boosted their price objective 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. Loop Capital raised their target price on Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. TD Cowen lifted their target price on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Trading Up 1.4 %

NASDAQ NFLX opened at $1,058.60 on Friday. 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 business has a fifty day simple moving average of $926.92 and a 200 day simple moving average of $801.02. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The firm has a market capitalization of $452.83 billion, a P/E ratio of 53.38, a PEG ratio of 2.11 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the prior year, the company posted $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 303,809 shares of company stock valued at $290,374,484 in the last 90 days. 1.76% of the stock is currently owned by corporate 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.