Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Ledyard National Bank

Ledyard National Bank lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 256 shares of the Internet television network’s stock after selling 45 shares during the quarter. Ledyard National Bank’s holdings in Netflix were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares in the last quarter. State Street Corp lifted its stake in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Jennison Associates LLC boosted its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Netflix in the third quarter valued at approximately $222,871,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent analyst reports. Guggenheim increased their target price on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Phillip Securities lowered Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler reissued an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, KeyCorp lifted their price target on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Insider Buying and Selling at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total value of $473,640.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 4,434 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $1,015.00, for a total value of $4,500,510.00. Following the transaction, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at $13,144,250. The trade was a 25.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 299,517 shares of company stock valued at $285,805,037. Insiders own 1.76% of the company’s stock.

Netflix Stock Down 0.2 %

NFLX stock opened at $1,013.93 on Friday. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,027.76. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $433.72 billion, a P/E ratio of 51.13, a P/E/G ratio of 2.02 and a beta of 1.27. The company’s 50-day moving average price is $914.82 and its 200 day moving average price is $787.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the company earned $2.11 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.