Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,741 shares of the Internet television network’s stock after selling 237 shares during the period. Mechanics Bank Trust Department’s holdings in Netflix were worth $1,850,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Valued Wealth Advisors LLC boosted its stake in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares in the last quarter. Indiana Trust & Investment Management CO lifted its holdings in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares during the last quarter. VitalStone Financial LLC boosted its position in shares of Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the period. Scarborough Advisors LLC purchased a new position in Netflix in the 4th quarter worth about $32,000. Finally, Beaird Harris Wealth Management LLC raised its holdings in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 19,943 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94. Following the completion of the transaction, the chairman now directly owns 57 shares in the company, valued at $36,114.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Reed Hastings sold 19,943 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $633.58, for a total value of $12,635,485.94. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at $36,114.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The disclosure for this sale can be found here. Insiders have sold 95,218 shares of company stock worth $60,687,405 over the last three months. Company insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on NFLX shares. Evercore ISI raised their target price on shares of Netflix from $700.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Citigroup raised their price objective on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Oppenheimer reissued an “outperform” rating and set a $725.00 target price on shares of Netflix in a research note on Tuesday, July 30th. Argus increased their target price on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, Sanford C. Bernstein lifted their price target on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. One investment 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $681.21.

Netflix Stock Performance

Shares of Netflix stock traded up $3.59 during midday trading on Friday, hitting $633.94. The company had a trading volume of 1,980,836 shares, compared to its average volume of 3,921,475. The stock has a market cap of $273.23 billion, a PE ratio of 43.99, a P/E/G ratio of 1.28 and a beta of 1.27. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $697.49. The business’s 50 day simple moving average is $652.98 and its two-hundred day simple moving average is $618.88. 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 posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the previous year, the firm posted $3.29 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. As a group, equities analysts predict that Netflix, Inc. will post 19.08 EPS 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.