US Bancorp DE boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 123,105 shares of the Internet television network’s stock after buying an additional 9,921 shares during the period. US Bancorp DE’s holdings in Netflix were worth $54,227,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of NFLX. Arete Wealth Advisors LLC purchased a new stake in Netflix in the first quarter worth $885,000. Montecito Bank & Trust purchased a new position in shares of Netflix during the second quarter valued at $226,000. Factory Mutual Insurance Co. increased its stake in shares of Netflix by 32.6% during the second quarter. Factory Mutual Insurance Co. now owns 152,848 shares of the Internet television network’s stock valued at $67,328,000 after buying an additional 37,600 shares during the period. CWM LLC increased its stake in shares of Netflix by 1.4% during the second quarter. CWM LLC now owns 47,937 shares of the Internet television network’s stock valued at $21,116,000 after buying an additional 660 shares during the period. Finally, Old North State Trust LLC increased its stake in shares of Netflix by 25.7% during the first quarter. Old North State Trust LLC now owns 357 shares of the Internet television network’s stock valued at $123,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 79.95% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. TD Cowen cut their price target on Netflix from $515.00 to $500.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 11th. Guggenheim restated a “buy” rating and set a $460.00 price target on shares of Netflix in a research note on Thursday, October 19th. Bank of America raised their price objective on Netflix from $490.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. The Goldman Sachs Group dropped their price objective on Netflix from $400.00 to $390.00 and set a “neutral” rating on the stock in a research report on Monday, October 9th. Finally, Pivotal Research raised their price objective on Netflix from $535.00 to $600.00 in a research report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $441.20.
Netflix Price Performance
Shares of NASDAQ:NFLX traded up $3.12 during trading on Thursday, reaching $465.06. The stock had a trading volume of 956,107 shares, compared to its average volume of 6,742,488. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.29 and a current ratio of 1.29. The business has a fifty day moving average price of $401.67 and a 200-day moving average price of $406.75. The stock has a market cap of $203.55 billion, a PE ratio of 46.10, a PEG ratio of 1.73 and a beta of 1.24. Netflix, Inc. has a 1-year low of $273.41 and a 1-year high of $485.00.
Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings results on Wednesday, October 18th. The Internet television network reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.24. The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.54 billion. Netflix had a return on equity of 20.68% and a net margin of 13.82%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.10 earnings per share. On average, equities analysts forecast that Netflix, Inc. will post 12.09 earnings per share for the current fiscal year.
Insider Transactions at Netflix
In other Netflix news, Chairman Reed Hastings sold 17,969 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $440.60, for a total transaction of $7,917,141.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Richard N. Barton sold 500 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $378.05, for a total value of $189,025.00. Following the transaction, the director now owns 152 shares in the company, valued at approximately $57,463.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 17,969 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $440.60, for a total value of $7,917,141.40. The disclosure for this sale can be found here. Insiders have sold 134,563 shares of company stock valued at $57,388,283 over the last ninety days. Insiders own 2.45% of the company’s stock.
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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