Netflix, Inc. (NASDAQ:NFLX) Shares Sold by AMG National Trust Bank

AMG National Trust Bank cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 8.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,417 shares of the Internet television network’s stock after selling 227 shares during the period. AMG National Trust Bank’s holdings in Netflix were worth $1,714,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Denver PWM LLC purchased a new stake in shares of Netflix during the 2nd quarter valued at $25,000. Proffitt & Goodson Inc. grew its position in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its stake in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. Finally, Triad Wealth Partners LLC purchased a new position in shares of Netflix in the 2nd quarter worth about $38,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $950.00 price objective (up from $800.00) on shares of Netflix in a research note on Monday. Wells Fargo & Company upped their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Evercore ISI raised their price objective on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Jefferies Financial Group upped their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $753.45.

Netflix Stock Performance

NFLX stock opened at $847.05 on Tuesday. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $848.45. The stock has a market capitalization of $362.08 billion, a price-to-earnings ratio of 47.94, a PEG ratio of 1.59 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s fifty day moving average is $739.20 and its two-hundred day moving average is $683.35.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at $57,878.20. This represents a 99.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy M. Haley sold 647 shares of Netflix stock in a transaction on Monday, November 11th. The shares were sold at an average price of $800.19, for a total value of $517,722.93. The disclosure for this sale can be found here. Insiders sold 185,277 shares of company stock worth $132,875,601 in the last 90 days. Corporate 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.