First Citizens Bank & Trust Co. Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

First Citizens Bank & Trust Co. lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,637 shares of the Internet television network’s stock after selling 611 shares during the period. First Citizens Bank & Trust Co.’s holdings in Netflix were worth $13,219,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. DigitalBridge Group Inc. lifted its stake in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares during the last quarter. M&G Plc acquired a new position in shares of Netflix during the 1st quarter worth about $9,682,000. BSN CAPITAL PARTNERS Ltd increased its holdings in shares of Netflix by 24.4% in the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after acquiring an additional 49,000 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Netflix by 58.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after acquiring an additional 30,511 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in shares of Netflix by 14.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock worth $6,274,000 after acquiring an additional 1,342 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $763.89 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $329.24 billion, a PE ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. The firm’s 50-day simple moving average is $696.38 and its 200 day simple moving average is $654.66. Netflix, Inc. has a 52 week low of $392.26 and a 52 week high of $766.28.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same period last year, the company posted $3.29 EPS. The company’s revenue was up 16.8% on a year-over-year basis. On average, equities research analysts predict that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. KeyCorp upped their price target on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday. Citigroup increased their target price on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Needham & Company LLC lifted their target price on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. Redburn Atlantic lifted their target price on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, China Renaissance initiated coverage on shares of Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $739.38.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the sale, the director now directly owns 35,262 shares in the company, valued at $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at $8,043,019.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 225,167 shares of company stock valued at $150,492,460. Corporate insiders own 1.76% of the company’s stock.

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.