Trust Point Inc. Purchases 318 Shares of Netflix, Inc. (NASDAQ:NFLX)

Trust Point Inc. lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 12.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,936 shares of the Internet television network’s stock after purchasing an additional 318 shares during the quarter. Trust Point Inc.’s holdings in Netflix were worth $2,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. GQG Partners LLC purchased a new position in shares of Netflix during the 1st quarter valued at about $1,450,476,000. Jennison Associates LLC increased its stake in Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Netflix in the 1st quarter worth approximately $436,514,000. Jericho Capital Asset Management L.P. purchased a new position in Netflix during the 1st quarter valued at $372,293,000. Finally, Swedbank AB purchased a new position in Netflix during the 1st quarter valued at $216,538,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 10.5 %

Shares of NFLX stock traded up $72.35 during trading hours on Friday, reaching $760.00. The company’s stock had a trading volume of 7,613,194 shares, compared to its average volume of 3,682,042. The firm’s fifty day simple moving average is $693.78 and its 200 day simple moving average is $653.62. The stock has a market capitalization of $327.56 billion, a P/E ratio of 52.67, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a one year low of $392.26 and a one year high of $761.91.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Pivotal Research boosted their price target on Netflix from $900.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Financial Group increased their price target on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. Sanford C. Bernstein increased their target price on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a report on Friday. Piper Sandler restated an “overweight” rating and set a $840.00 price target (up from $800.00) on shares of Netflix in a research note on Friday. Finally, Redburn Atlantic boosted their price objective on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average price target of $735.24.

Insider Buying and Selling

In other news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now owns 35,262 shares in the company, valued at $25,741,260. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,167 shares of company stock worth $150,492,460. Corporate insiders own 1.76% of the company’s stock.

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.