Bank of Stockton Raises Stake in Netflix, Inc. (NASDAQ:NFLX)

Bank of Stockton increased its position in Netflix, Inc. (NASDAQ:NFLX) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,572 shares of the Internet television network’s stock after buying an additional 37 shares during the quarter. Netflix comprises about 0.8% of Bank of Stockton’s investment portfolio, making the stock its 27th biggest position. Bank of Stockton’s holdings in Netflix were worth $2,398,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Halbert Hargrove Global Advisors LLC raised its holdings in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new stake in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC acquired a new stake in Netflix during the fourth quarter worth about $32,000. Copia Wealth Management bought a new position in Netflix in the fourth quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its stake in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock valued at $41,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares of the company’s stock, valued at $3,402,068.52. This trade represents a 41.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay C. Hoag sold 32,515 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the transaction, the director now directly owns 79,040 shares of the company’s stock, valued at $87,099,708.80. This trade represents a 29.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,660 shares of company stock worth $209,802,025. 1.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research reports. Macquarie increased their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Bank of America upped their price objective on Netflix from $1,175.00 to $1,490.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Pivotal Research raised their target price on Netflix from $1,350.00 to $1,600.00 and gave the company a “buy” rating in a research note on Friday, June 20th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $1,220.00 price target (up previously from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Finally, Moffett Nathanson reaffirmed a “buy” rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,172.73.

Netflix Trading Down 0.3%

NASDAQ NFLX opened at $1,275.25 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,298.00. The firm’s 50 day moving average price is $1,169.57 and its two-hundred day moving average price is $1,018.04. The stock has a market cap of $542.71 billion, a price-to-earnings ratio of 60.27, a PEG ratio of 2.47 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter last year, the firm earned $8.28 EPS. Equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

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.