Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department trimmed its holdings in Netflix, Inc. (NASDAQ:NFLXFree Report) by 13.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,978 shares of the Internet television network’s stock after selling 463 shares during the quarter. Mechanics Bank Trust Department’s holdings in Netflix were worth $1,809,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new position in Netflix in the 4th quarter worth about $2,558,598,000. Wellington Management Group LLP raised its holdings in shares of Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after acquiring an additional 3,273,592 shares during the period. International Assets Investment Management LLC lifted its position in shares of Netflix by 15,039.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after acquiring an additional 2,061,859 shares in the last quarter. Jennison Associates LLC boosted its stake in Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. Finally, Global Assets Advisory LLC purchased a new position in Netflix during the 1st quarter worth approximately $436,514,000. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Anne M. Sweeney sold 633 shares of Netflix stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total transaction of $354,480.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The disclosure for this sale can be found here. Insiders have sold 69,425 shares of company stock worth $41,919,791 over the last three months. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX traded up $0.38 during mid-day trading on Tuesday, hitting $669.40. The company’s stock had a trading volume of 1,260,057 shares, compared to its average volume of 4,005,215. Netflix, Inc. has a one year low of $344.73 and a one year high of $689.88. The stock’s 50-day moving average is $622.68 and its two-hundred day moving average is $579.07. The firm has a market capitalization of $288.51 billion, a PE ratio of 46.65, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLXGet Free Report) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the business posted $2.88 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Netflix, Inc. will post 18.31 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Netflix from $525.00 to $550.00 and gave the company a “hold” rating in a report on Monday, April 15th. KeyCorp raised their price objective on Netflix from $705.00 to $707.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Oppenheimer reiterated an “outperform” rating and issued a $725.00 target price on shares of Netflix in a report on Friday, April 19th. Piper Sandler raised their price target on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Pivotal Research upped their price objective on shares of Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $633.53.

View Our Latest Stock Analysis on NFLX

Netflix Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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