Old North State Trust LLC Buys 66 Shares of Netflix, Inc. (NASDAQ:NFLX)

Old North State Trust LLC increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 677 shares of the Internet television network’s stock after acquiring an additional 66 shares during the period. Old North State Trust LLC’s holdings in Netflix were worth $457,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NFLX. Vanguard Group Inc. lifted its holdings in shares of Netflix by 0.4% in 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 in the last quarter. Capital World Investors grew its stake in shares of Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after acquiring an additional 78,320 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after purchasing an additional 106,756 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in Netflix by 1.8% in the fourth quarter. Fisher Asset Management LLC now owns 4,115,613 shares of the Internet television network’s stock valued at $2,003,810,000 after purchasing an additional 72,807 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on NFLX. The Goldman Sachs Group boosted their price target on shares of Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Sanford C. Bernstein raised their price target on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Loop Capital upped their price objective on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Macquarie reissued an “outperform” rating and issued a $685.00 target price on shares of Netflix in a research note on Tuesday, July 16th. Finally, Pivotal Research increased their price target on shares of Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $685.29.

Netflix Stock Down 0.6 %

Shares of NASDAQ NFLX opened at $707.35 on Monday. The business’s fifty day moving average price is $669.62 and its 200-day moving average price is $644.91. Netflix, Inc. has a one year low of $344.73 and a one year high of $725.26. The stock has a market capitalization of $304.87 billion, a PE ratio of 49.09, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

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

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 20,656 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 179,494 shares of company stock valued at $118,230,884. Company insiders own 1.76% of the company’s stock.

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.