Hancock Whitney Corp Raises Stake in Netflix, Inc. (NASDAQ:NFLX)

Hancock Whitney Corp increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 117.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,911 shares of the Internet television network’s stock after purchasing an additional 15,629 shares during the quarter. Hancock Whitney Corp’s holdings in Netflix were worth $19,512,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of NFLX. M&G Plc purchased a new position in shares of Netflix in the 1st quarter valued at $9,682,000. BSN CAPITAL PARTNERS Ltd raised its position in Netflix by 24.4% in the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after purchasing an additional 49,000 shares during the period. Scarborough Advisors LLC acquired a new position in shares of Netflix during the fourth quarter worth about $9,513,000. Scotia Capital Inc. boosted its position in shares of Netflix by 9.1% in the fourth quarter. Scotia Capital Inc. now owns 25,351 shares of the Internet television network’s stock worth $12,343,000 after buying an additional 2,110 shares during the period. Finally, Focus Financial Network Inc. ADV purchased a new stake in shares of Netflix in the fourth quarter worth about $3,700,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,226 shares of company stock worth $129,858,692. 1.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NFLX shares. Pivotal Research upped their price target on Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Argus upped their target price on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group lifted their price target on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. KeyCorp upped their price objective on shares of Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Macquarie reaffirmed an “outperform” rating and set a $685.00 target price on shares of Netflix in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $701.03 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $302.14 billion, a PE ratio of 48.65, a P/E/G ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $715.66. The business’s fifty day moving average price is $663.00 and its two-hundred day moving average price is $640.55.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.29 earnings per share. On average, research analysts expect that Netflix, Inc. will post 19.08 EPS for the current 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.