First Financial Bank Trust Division Sells 26 Shares of Netflix, Inc. (NASDAQ:NFLX)

First Financial Bank Trust Division reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 345 shares of the Internet television network’s stock after selling 26 shares during the quarter. First Financial Bank Trust Division’s holdings in Netflix were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Denver PWM LLC acquired a new position in Netflix during the 2nd quarter valued at about $25,000. Valued Wealth Advisors LLC raised its stake in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares during the last quarter. VitalStone Financial LLC lifted its holdings in Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after buying an additional 56 shares during the period. Beaird Harris Wealth Management LLC lifted its holdings in Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in Netflix during the 4th quarter worth $32,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 224,784 shares of company stock valued at $150,212,870. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NFLX shares. Rosenblatt Securities reissued a “neutral” rating and issued a $635.00 price target on shares of Netflix in a research note on Friday, September 20th. Piper Sandler increased their target price on Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. UBS Group boosted their target price on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price target on shares of Netflix in a research report on Friday, July 19th. Finally, Pivotal Research lifted their price objective on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $686.03.

Netflix Stock Performance

Shares of NFLX stock opened at $706.80 on Friday. The firm has a market cap of $304.63 billion, a PE ratio of 49.05, a P/E/G ratio of 1.44 and a beta of 1.26. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $725.26. The company’s fifty day simple moving average is $675.08 and its 200-day simple moving average is $647.16. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. The firm 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 company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.29 EPS. Equities research analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.