Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Truist Financial Corp

Truist Financial Corp lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 262,700 shares of the Internet television network’s stock after purchasing an additional 5,465 shares during the quarter. Truist Financial Corp’s holdings in Netflix were worth $234,150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in Netflix by 116,620.0% during the third 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 acquiring an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Netflix by 154.7% during the third 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 during the last quarter. State Street Corp increased 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 acquiring an additional 426,740 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in Netflix by 112,896.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after acquiring an additional 381,590 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on NFLX. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Loop Capital raised their target price on Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Morgan Stanley lifted their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and lifted their price objective for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Finally, KeyCorp lifted their price objective on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 4,939 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $13,338,500. The trade was a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,809 shares of company stock worth $290,374,484 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Up 1.4 %

Shares of NASDAQ NFLX opened at $1,058.60 on Monday. The firm has a market cap of $452.83 billion, a price-to-earnings ratio of 53.38, a PEG ratio of 2.11 and a beta of 1.27. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The stock’s 50-day simple moving average is $929.40 and its 200-day simple moving average is $806.53. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the firm earned $2.11 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.