CNB Bank Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

CNB Bank decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,565 shares of the Internet television network’s stock after selling 59 shares during the quarter. CNB Bank’s holdings in Netflix were worth $1,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares during the last quarter. Jennison Associates LLC grew its position in Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the period. Baillie Gifford & Co. raised its stake in Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after buying an additional 106,756 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after buying an additional 104,332 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Netflix by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock worth $2,214,488,000 after buying an additional 83,762 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the sale, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders have sold a total of 225,167 shares of company stock valued at $150,492,460 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on NFLX shares. Guggenheim upped their price objective on Netflix from $735.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Macquarie reaffirmed an “outperform” rating and set a $795.00 price target on shares of Netflix in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a report on Friday. Finally, Evercore ISI increased their price target on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $747.70.

Netflix Price Performance

Shares of Netflix stock opened at $763.89 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 12 month low of $392.26 and a 12 month high of $766.28. The stock has a 50 day moving average of $696.38 and a 200 day moving average of $654.94. The firm has a market cap of $329.24 billion, a PE ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the prior year, the company earned $3.29 EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, 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.