Parkside Financial Bank & Trust Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Parkside Financial Bank & Trust trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,336 shares of the Internet television network’s stock after selling 103 shares during the period. Parkside Financial Bank & Trust’s holdings in Netflix were worth $650,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NFLX. Summit Global Investments lifted its position in Netflix by 29.0% during the 3rd quarter. Summit Global Investments now owns 2,064 shares of the Internet television network’s stock valued at $779,000 after acquiring an additional 464 shares during the period. Douglas Lane & Associates LLC lifted its position in Netflix by 12.5% during the 3rd quarter. Douglas Lane & Associates LLC now owns 559 shares of the Internet television network’s stock valued at $211,000 after acquiring an additional 62 shares during the period. Capital Investment Advisors LLC lifted its position in Netflix by 5.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 1,284 shares of the Internet television network’s stock valued at $485,000 after acquiring an additional 63 shares during the period. Montecito Bank & Trust raised its holdings in Netflix by 56.3% in the third quarter. Montecito Bank & Trust now owns 800 shares of the Internet television network’s stock worth $302,000 after buying an additional 288 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its holdings in Netflix by 12.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 886 shares of the Internet television network’s stock worth $335,000 after buying an additional 100 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NFLX stock traded up $22.80 during mid-day trading on Tuesday, hitting $577.40. The company had a trading volume of 3,515,883 shares, compared to its average volume of 4,497,296. Netflix, Inc. has a 52-week low of $315.62 and a 52-week high of $639.00. The stock’s 50 day moving average price is $605.58 and its 200-day moving average price is $516.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.12. The company has a market capitalization of $248.80 billion, a P/E ratio of 39.42, a P/E/G ratio of 1.49 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. Netflix’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.88 earnings per share. Equities research analysts forecast that Netflix, Inc. will post 17.13 earnings per share for the current year.

Insider Activity at Netflix

In related news, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now owns 28 shares in the company, valued at $17,091.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now owns 1,278 shares in the company, valued at approximately $717,379.74. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock valued at $151,619,811 over the last 90 days. 2.45% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on NFLX shares. Wells Fargo & Company lifted their target price on shares of Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America lifted their target price on shares of Netflix from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Friday. Citigroup lifted their target price on shares of Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a report on Monday, March 25th. KeyCorp lifted their target price on shares of Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Finally, UBS Group lifted their target price on shares of Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $630.58.

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.