First County Bank CT Takes Position in Netflix, Inc. (NASDAQ:NFLX)

First County Bank CT acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 261 shares of the Internet television network’s stock, valued at approximately $233,000.

Other large investors have also modified their holdings of the company. State Street Corp lifted its position in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC grew its holdings in Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after buying an additional 123,029 shares during the last quarter. Jennison Associates LLC increased its position in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the period. International Assets Investment Management LLC boosted its position 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 acquiring an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP raised its stake in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NFLX shares. Barclays restated an “underweight” rating and set a $550.00 price objective on shares of Netflix in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their price target on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised their price objective on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Morgan Stanley upped their target price on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Rosenblatt Securities lifted their price target on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $821.27.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the transaction, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. This trade represents a 99.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,186 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,817,500. The trade was a 24.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,761 shares of company stock valued at $125,713,484. 1.76% of the stock is currently owned by insiders.

Netflix Stock Down 0.3 %

Shares of NFLX opened at $879.19 on Wednesday. The firm has a market capitalization of $375.82 billion, a price-to-earnings ratio of 49.76, a PEG ratio of 1.77 and a beta of 1.27. Netflix, Inc. has a 52 week low of $472.95 and a 52 week high of $941.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The business’s fifty day moving average price is $871.62 and its two-hundred day moving average price is $749.78.

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

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.