Ledyard National Bank Trims Position in Netflix, Inc. (NASDAQ:NFLX)

Ledyard National Bank reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 15.0% in the 4th quarter, Holdings Channel reports. The fund owned 256 shares of the Internet television network’s stock after selling 45 shares during the period. Ledyard National Bank’s holdings in Netflix were worth $228,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after acquiring an additional 29,726 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after acquiring an additional 11,921 shares during the period. M&T Bank Corp boosted its position in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Netflix in the third quarter valued at approximately $1,517,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

NFLX opened at $1,013.93 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,027.76. The company has a 50-day moving average of $914.82 and a 200-day moving average of $787.62. The company has a market capitalization of $433.72 billion, a P/E ratio of 51.13, a PEG ratio of 2.02 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.11 earnings per share. Equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy M. Haley sold 647 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was 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 have sold 299,517 shares of company stock worth $285,805,037 over the last ninety days. 1.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NFLX shares. JPMorgan Chase & Co. lifted their price target on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Citigroup upped their price target on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Oppenheimer raised their price objective on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and boosted their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

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.