Netflix, Inc. $NFLX Stock Acquired by Rockland Trust Co.

Rockland Trust Co. increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 27.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 219,221 shares of the Internet television network’s stock after purchasing an additional 47,339 shares during the quarter. Rockland Trust Co.’s holdings in Netflix were worth $15,253,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Netflix during the second quarter worth about $24,902,221,000. State Street Corp increased its position in shares of Netflix by 4.9% during the second quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock worth $12,861,252,000 after purchasing an additional 8,474,820 shares in the last quarter. Capital World Investors lifted its holdings in shares of Netflix by 859.1% in the 4th quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock valued at $8,376,656,000 after purchasing an additional 80,025,890 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Netflix by 4.3% in the 1st quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network’s stock valued at $5,571,201,000 after purchasing an additional 2,376,349 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Netflix by 835.9% in the 4th quarter. Invesco Ltd. now owns 43,462,696 shares of the Internet television network’s stock valued at $4,075,062,000 after purchasing an additional 38,818,947 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Netflix news, CEO Theodore Sarandos sold 27,312 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $73.35, for a total transaction of $2,003,335.20. Following the sale, the chief executive officer directly owned 178,954 shares in the company, valued at approximately $13,126,275.90. The trade was a 13.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard Barton sold 720 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $75.27, for a total transaction of $54,194.40. Following the transaction, the director directly owned 2,460 shares in the company, valued at approximately $185,164.20. This trade represents a 22.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 179,045 shares of company stock valued at $13,132,194 in the last quarter. Corporate insiders own 1.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NFLX shares. Rosenblatt Securities set a $75.00 price target on Netflix and gave the stock a “neutral” rating in a research note on Friday, July 17th. Wolfe Research reiterated an “outperform” rating and issued a $95.00 price objective (up from $84.00) on shares of Netflix in a research note on Tuesday, August 25th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Netflix in a report on Thursday, August 20th. HSBC lowered shares of Netflix from a “buy” rating to a “hold” rating and lowered their target price for the stock from $96.00 to $76.00 in a research report on Tuesday, September 22nd. Finally, Seaport Research Partners cut shares of Netflix from a “buy” rating to a “neutral” rating in a report on Monday, July 20th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.27.

Netflix Stock Performance

NASDAQ:NFLX traded down $0.18 during mid-day trading on Monday, reaching $66.88. The stock had a trading volume of 16,594,303 shares, compared to its average volume of 42,486,203. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $278.48 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 0.95 and a beta of 1.62. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $124.86. The business has a 50 day simple moving average of $75.73 and a 200 day simple moving average of $82.16.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The business had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.58 billion. During the same period in the prior year, the business posted $0.72 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Netflix Company Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that operates a subscription-based streaming service. It offers a broad range of television series, films, documentaries, and other programming, including original productions developed under the Netflix brand and licensed content from third-party studios.

The company also provides advertising-supported viewing options in some markets and has expanded into related entertainment categories, including mobile and cloud-based games, live programming, and consumer products associated with selected titles.