US Bancorp DE Sells 13,541 Shares of Netflix, Inc. (NASDAQ:NFLX)

US Bancorp DE cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 120,308 shares of the Internet television network’s stock after selling 13,541 shares during the period. US Bancorp DE’s holdings in Netflix were worth $107,233,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its position in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Geode Capital Management LLC grew its position in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares in the last quarter. Jennison Associates LLC grew its position in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares in the last quarter. Wellington Management Group LLP grew its position in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Netflix by 1.0% during the fourth quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock worth $4,035,404,000 after buying an additional 45,507 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 303,380 shares of company stock worth $290,016,164. Insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NFLX shares. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Loop Capital lifted their price objective on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Needham & Company LLC lifted their price objective on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Morgan Stanley lifted their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Performance

NFLX stock opened at $980.56 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a 50 day moving average price of $947.72 and a 200 day moving average price of $830.81. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The stock has a market capitalization of $419.44 billion, a PE ratio of 49.45, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.11 EPS. Analysts forecast that Netflix, Inc. will post 24.58 EPS for the current 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.