Netflix, Inc. (NASDAQ:NFLX) Shares Bought by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. grew its stake in Netflix, Inc. (NASDAQ:NFLX) by 71.7% during the first quarter, HoldingsChannel reports. The firm owned 503 shares of the Internet television network’s stock after purchasing an additional 210 shares during the quarter. New Covenant Trust Company N.A.’s holdings in Netflix were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after purchasing an additional 171,712 shares in the last quarter. FMR LLC increased its holdings in Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after buying an additional 375,234 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after acquiring an additional 175,596 shares during the period. GAMMA Investing LLC increased its stake in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Netflix during the 4th quarter worth approximately $5,019,087,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NFLX. Needham & Company LLC reaffirmed a “buy” rating and set a $1,126.00 price target on shares of Netflix in a research note on Thursday, April 17th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $1,220.00 target price (up previously from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Robert W. Baird raised their price objective on Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. BMO Capital Markets reiterated an “outperform” rating and set a $1,200.00 price objective (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Finally, Oppenheimer boosted their price target on Netflix from $1,200.00 to $1,425.00 and gave the stock an “outperform” rating in a research note on Thursday, June 12th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,172.73.

Insider Activity

In other news, insider Cletus R. Willems sold 298 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $35,972,180. This represents a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,660 shares of company stock worth $209,802,025. Company insiders own 1.37% of the company’s stock.

Netflix Trading Up 1.8%

NFLX opened at $1,253.54 on Tuesday. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.81. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a market cap of $533.47 billion, a P/E ratio of 59.24, a PEG ratio of 2.38 and a beta of 1.59. The company’s 50 day moving average is $1,157.24 and its 200-day moving average is $1,014.42.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the previous year, the business earned $8.28 EPS. Equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

About Netflix

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.