AMG National Trust Bank Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

AMG National Trust Bank boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 35.9% during the 2nd quarter, Holdings Channel reports. The firm owned 2,644 shares of the Internet television network’s stock after buying an additional 698 shares during the quarter. AMG National Trust Bank’s holdings in Netflix were worth $1,784,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NFLX. Valued Wealth Advisors LLC lifted its stake in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares in the last quarter. VitalStone Financial LLC lifted its stake in Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its stake in Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in Netflix in the 4th quarter worth $32,000. Finally, Indiana Trust & Investment Management CO lifted its stake in Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Down 0.3 %

Netflix stock opened at $686.73 on Monday. The business has a fifty day moving average of $658.35 and a two-hundred day moving average of $626.59. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $295.98 billion, a P/E ratio of 47.66, a P/E/G ratio of 1.28 and a beta of 1.27. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $711.33.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same period in the prior year, the firm posted $3.29 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. On average, analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Loop Capital upped their target price on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Jefferies Financial Group upped their target price on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Benchmark upped their target price on shares of Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research report on Tuesday, July 16th. Finally, Citigroup upped their price target on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $681.21.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 13,791 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $22,127,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Leslie J. Kilgore sold 1,372 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total transaction of $966,999.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $22,127,000. The disclosure for this sale can be found here. Insiders sold 152,700 shares of company stock valued at $98,283,982 over the last 90 days. Insiders own 1.76% of the company’s stock.

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.