Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Whittier Trust Co.

Whittier Trust Co. lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.4% during the second quarter, Holdings Channel.com reports. The fund owned 4,017 shares of the Internet television network’s stock after selling 141 shares during the quarter. Whittier Trust Co.’s holdings in Netflix were worth $2,711,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Precision Wealth Strategies LLC raised its position in shares of Netflix by 3.5% during the 4th quarter. Precision Wealth Strategies LLC now owns 2,444 shares of the Internet television network’s stock worth $1,190,000 after purchasing an additional 83 shares during the last quarter. Silver Oak Securities Incorporated increased its stake in Netflix by 58.1% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,023 shares of the Internet television network’s stock worth $498,000 after buying an additional 376 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in shares of Netflix by 5.9% during the fourth quarter. Gilbert & Cook Inc. now owns 2,177 shares of the Internet television network’s stock valued at $1,060,000 after acquiring an additional 121 shares during the last quarter. Choreo LLC lifted its position in shares of Netflix by 31.1% in the fourth quarter. Choreo LLC now owns 5,647 shares of the Internet television network’s stock valued at $2,749,000 after acquiring an additional 1,339 shares in the last quarter. Finally, Naviter Wealth LLC boosted its stake in shares of Netflix by 15.3% in the fourth quarter. Naviter Wealth LLC now owns 2,315 shares of the Internet television network’s stock worth $1,127,000 after acquiring an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup raised their price objective on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. CICC Research began coverage on shares of Netflix in a research note on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price target on the stock. Bank of America upped their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Sanford C. Bernstein raised their target price on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Finally, The Goldman Sachs Group upped their price target on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $685.45.

Netflix Price Performance

NFLX opened at $692.48 on Friday. The firm has a market cap of $298.46 billion, a price-to-earnings ratio of 48.06, a PEG ratio of 1.28 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock’s 50-day moving average price is $658.77 and its 200 day moving average price is $628.84. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $711.33.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.29 earnings per share. As a group, sell-side analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 19,943 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $36,114.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Reed Hastings sold 19,943 shares of Netflix stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $633.58, for a total value of $12,635,485.94. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at $36,114.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Insiders sold 152,700 shares of company stock valued at $98,283,982 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Netflix 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.