Old North State Trust LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 25.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 357 shares of the Internet television network’s stock after buying an additional 73 shares during the period. Old North State Trust LLC’s holdings in Netflix were worth $123,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Baldrige Asset Management LLC lifted its holdings in Netflix by 156.3% in the first quarter. Baldrige Asset Management LLC now owns 82 shares of the Internet television network’s stock valued at $28,000 after buying an additional 50 shares during the period. Tanglewood Legacy Advisors LLC acquired a new stake in Netflix in the fourth quarter worth $29,000. Barrett & Company Inc. acquired a new stake in Netflix in the first quarter worth $29,000. Manchester Capital Management LLC raised its holdings in Netflix by 8,700.0% in the first quarter. Manchester Capital Management LLC now owns 88 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 87 shares during the period. Finally, Retirement Group LLC raised its holdings in Netflix by 52.6% in the first quarter. Retirement Group LLC now owns 87 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 30 shares during the period. 79.95% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Netflix
In other news, Director Richard N. Barton sold 500 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $443.07, for a total transaction of $221,535.00. Following the completion of the sale, the director now owns 152 shares in the company, valued at approximately $67,346.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Netflix news, Director Timothy M. Haley sold 1,022 shares of Netflix stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $450.19, for a total value of $460,094.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 500 shares of Netflix stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $443.07, for a total transaction of $221,535.00. Following the completion of the sale, the director now owns 152 shares of the company’s stock, valued at approximately $67,346.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,377 shares of company stock worth $54,547,674. 2.45% of the stock is owned by insiders.
Netflix Stock Performance
Netflix (NASDAQ:NFLX – Get Free Report) last posted its earnings results on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.44. The company had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Netflix had a net margin of 13.22% and a return on equity of 19.76%. Netflix’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.20 EPS. On average, sell-side analysts anticipate that Netflix, Inc. will post 11.92 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms have weighed in on NFLX. Wedbush increased their target price on shares of Netflix from $475.00 to $525.00 and gave the stock an “outperform” rating in a report on Thursday, July 20th. Canaccord Genuity Group increased their target price on shares of Netflix from $470.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, July 20th. Jefferies Financial Group increased their target price on shares of Netflix from $440.00 to $520.00 in a report on Tuesday, July 18th. Pivotal Research increased their price objective on shares of Netflix from $535.00 to $600.00 in a research report on Thursday, July 20th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $370.00 price objective on shares of Netflix in a research report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $432.91.
Read Our Latest Stock Analysis on NFLX
About Netflix
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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