Umpqua Bank Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Umpqua Bank trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,775 shares of the Internet television network’s stock after selling 61 shares during the quarter. Umpqua Bank’s holdings in Netflix were worth $1,259,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after buying an additional 149,341 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after purchasing an additional 106,756 shares during the period. Legal & General Group Plc increased its position in Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after purchasing an additional 104,332 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Netflix by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after buying an additional 83,762 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX traded down $3.61 during mid-day trading on Wednesday, hitting $760.30. The stock had a trading volume of 231,764 shares, compared to its average volume of 3,669,860. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a 50 day simple moving average of $715.67 and a 200-day simple moving average of $667.19. The stock has a market capitalization of $325.00 billion, a price-to-earnings ratio of 43.23, a P/E/G ratio of 1.46 and a beta of 1.25. Netflix, Inc. has a 52 week low of $431.00 and a 52 week high of $773.00.

Analysts Set New Price Targets

Several research firms have issued reports on NFLX. Loop Capital boosted their price objective on shares of Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group raised their price objective on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Canaccord Genuity Group boosted their price target on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average target price of $748.15.

Insider Buying and Selling at Netflix

In related news, insider David A. Hyman sold 13,791 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $22,127,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $22,127,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 229,477 shares of company stock worth $160,300,776. 1.76% of the stock is owned by company 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.