First National Trust Co Sells 157 Shares of Netflix, Inc. (NASDAQ:NFLX)

by · The Markets Daily

First National Trust Co decreased its stake in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 11.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,246 shares of the Internet television network’s stock after selling 157 shares during the quarter. First National Trust Co’s holdings in Netflix were worth $884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Netflix by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after buying an additional 106,756 shares during the last quarter. Legal & General Group Plc raised its position in Netflix by 3.1% during the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after acquiring an additional 104,332 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Netflix by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after acquiring an additional 83,762 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday, October 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $825.00 price objective (up from $770.00) on shares of Netflix in a research report on Friday, October 18th. Pivotal Research lifted their target price on Netflix from $900.00 to $925.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Canaccord Genuity Group raised their price target on Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a report on Friday, October 18th. Finally, KeyCorp upped their price objective on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $748.15.

Check Out Our Latest Analysis on Netflix

Netflix Price Performance

Netflix stock opened at $819.50 on Wednesday. The company has a market capitalization of $350.30 billion, a PE ratio of 46.38, a P/E/G ratio of 1.55 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $723.63 and a two-hundred day moving average price of $673.70. Netflix, Inc. has a 12 month low of $442.60 and a 12 month high of $820.37.

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

Insider Buying and Selling

In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Leslie J. Kilgore sold 358 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $765.00, for a total value of $273,870.00. Following the transaction, the director now owns 35,262 shares in the company, valued at $26,975,430. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 205,084 shares of company stock valued at $146,747,101 over the last 90 days. 1.76% of the stock is owned by insiders.

Netflix Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX – Free Report).