FineMark National Bank & Trust Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

FineMark National Bank & Trust grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,289 shares of the Internet television network’s stock after buying an additional 61 shares during the period. FineMark National Bank & Trust’s holdings in Netflix were worth $2,040,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Pathway Financial Advisers LLC grew its stake in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the 3rd quarter valued at about $25,000. Newton One Investments LLC bought a new stake in Netflix during the 4th quarter valued at about $34,000. Pineridge Advisors LLC lifted its stake in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after buying an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its holdings in shares of Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after buying an additional 16 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

NASDAQ:NFLX opened at $997.28 on Wednesday. The business’s 50-day moving average is $965.09 and its 200 day moving average is $863.43. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a market capitalization of $426.59 billion, a P/E ratio of 50.29, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (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 analysts’ expectations of $10.14 billion. During the same period in the prior year, the firm earned $2.11 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $982.05, for a total value of $2,554,312.05. Following the completion of the transaction, the chief financial officer now owns 3,691 shares of the company’s stock, valued at approximately $3,624,746.55. This represents a 41.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock valued at $279,142,041 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NFLX has been the topic of several analyst reports. UBS Group reaffirmed a “buy” rating on shares of Netflix in a research report on Monday, March 10th. Loop Capital increased their price objective on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Guggenheim boosted their target price on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. KeyCorp raised their price target on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $1,016.78.

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.