American National Bank lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 50.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,704 shares of the Internet television network’s stock after selling 7,983 shares during the period. American National Bank’s holdings in Netflix were worth $2,062,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Hartford Investment Management Co. increased its stake in Netflix by 0.8% during the 2nd quarter. Hartford Investment Management Co. now owns 53,204 shares of the Internet television network’s stock worth $19,543,000 after buying an additional 447 shares in the last quarter. Bailard Inc. grew its position in shares of Netflix by 14.6% in the second quarter. Bailard Inc. now owns 787 shares of the Internet television network’s stock valued at $289,000 after purchasing an additional 100 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Netflix in the second quarter valued at approximately $4,353,000. Gryphon Financial Partners LLC purchased a new stake in shares of Netflix in the second quarter valued at approximately $372,000. Finally, Dearborn Partners LLC grew its position in shares of Netflix by 10.4% in the second quarter. Dearborn Partners LLC now owns 1,106 shares of the Internet television network’s stock valued at $406,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 78.96% of the company’s stock.
In related news, Director Bradford L. Smith acquired 6,499 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $308.49 per share, with a total value of $2,004,876.51. Following the completion of the transaction, the director now owns 799 shares of the company’s stock, valued at $246,483.51. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Reed Hastings sold 43,372 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $266.57, for a total value of $11,561,674.04. Following the sale, the chief executive officer now directly owns 43,372 shares in the company, valued at approximately $11,561,674.04. The disclosure for this sale can be found here. Insiders have sold 150,983 shares of company stock worth $44,378,164 over the last 90 days. 4.29% of the stock is owned by insiders.
NASDAQ:NFLX traded up $8.32 during trading hours on Thursday, reaching $275.85. 5,691,032 shares of the stock were exchanged, compared to its average volume of 9,396,903. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. The business has a 50-day moving average of $282.48 and a two-hundred day moving average of $334.70. Netflix, Inc. has a twelve month low of $231.23 and a twelve month high of $385.99. The company has a market capitalization of $121.12 billion, a price-to-earnings ratio of 102.93, a PEG ratio of 2.81 and a beta of 1.20.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Wednesday, July 17th. The Internet television network reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue was up 26.0% compared to the same quarter last year. On average, research analysts forecast that Netflix, Inc. will post 3.25 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada set a $450.00 price target on Netflix and gave the company a “buy” rating in a research report on Monday, August 26th. Aegis dropped their price target on Netflix from $310.00 to $275.00 and set a “hold” rating for the company in a research report on Tuesday. Wedbush upped their price target on Netflix from $183.00 to $188.00 and gave the company an “underperform” rating in a research report on Thursday, July 18th. Monness Crespi & Hardt dropped their price target on Netflix from $440.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. set a $425.00 price target on Netflix and gave the company a “buy” rating in a research report on Friday, September 27th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $371.46.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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