Grove Bank & Trust Purchases 213 Shares of Netflix, Inc. (NASDAQ:NFLX)

Grove Bank & Trust grew its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,215 shares of the Internet television network’s stock after purchasing an additional 213 shares during the quarter. Grove Bank & Trust’s holdings in Netflix were worth $3,757,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC acquired a new stake in Netflix in the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the period. Decker Retirement Planning Inc. bought a new position in shares of Netflix during the fourth quarter worth about $43,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Netflix in the third quarter worth approximately $37,000. Finally, FSA Wealth Management LLC bought a new stake in Netflix in the third quarter valued at approximately $38,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Wells Fargo & Company increased their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Benchmark boosted their target price on Netflix from $555.00 to $720.00 and gave the company a “sell” rating in a research report on Friday, January 3rd. Argus increased their target price on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Guggenheim raised their price target on shares of Netflix from $825.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average target price of $845.06.

Netflix Trading Up 1.9 %

Netflix stock opened at $858.10 on Friday. The stock has a market cap of $366.80 billion, a P/E ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $476.06 and a fifty-two week high of $941.75. The firm’s fifty day moving average price is $884.58 and its 200-day moving average price is $758.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Equities research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares in the company, valued at $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,198 shares of company stock valued at $127,616,898. Insiders own 1.76% of the company’s stock.

About Netflix

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.