Chevy Chase Trust Holdings LLC Has $305.17 Million Stock Holdings in Netflix, Inc. $NFLX

Key Points

• Chevy Chase Trust Holdings LLC has increased its stake in Netflix by 0.2%, now holding approximately 227,887 shares valued at $305.17 million, which constitutes 0.9% of its portfolio.
• Insider trading activity shows significant sales by CFO Spencer Neumann and Director Reed Hastings, with Neumann selling 2,600 shares and Hastings selling 42,176 shares, indicating fluctuations in insider ownership.
• Netflix reported a 24.58% net margin and a 15.9% year-over-year revenue increase, with earnings per share coming in at $7.19, beating analysts' expectations for the last quarter.

Chevy Chase Trust Holdings LLC raised its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 227,887 shares of the Internet television network's stock after buying an additional 467 shares during the period. Netflix comprises 0.9% of Chevy Chase Trust Holdings LLC's portfolio, making the stock its 16th biggest position. Chevy Chase Trust Holdings LLC owned about 0.05% of Netflix worth $305,170,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Resurgent Financial Advisors LLC increased its holdings in shares of Netflix by 234.4% in the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock valued at $942,000 after purchasing an additional 708 shares in the last quarter. MRA Advisory Group increased its holdings in shares of Netflix by 28.4% in the second quarter. MRA Advisory Group now owns 919 shares of the Internet television network's stock valued at $1,231,000 after purchasing an additional 203 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Netflix by 42.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 441,861 shares of the Internet television network's stock valued at $412,059,000 after purchasing an additional 130,946 shares in the last quarter. Sava Infond d.o.o. increased its holdings in shares of Netflix by 25.1% in the second quarter. Sava Infond d.o.o. now owns 1,495 shares of the Internet television network's stock valued at $2,002,000 after purchasing an additional 300 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its holdings in shares of Netflix by 1.4% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 989 shares of the Internet television network's stock valued at $1,324,000 after purchasing an additional 14 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 2,600 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $1,172.51, for a total transaction of $3,048,526.00. Following the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,327,734.41. This represents a 41.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Reed Hastings sold 42,176 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the transaction, the director directly owned 394 shares in the company, valued at approximately $461,736.48. This represents a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock valued at $122,710,980 over the last 90 days. 1.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of analyst reports. Itau BBA Securities assumed coverage on shares of Netflix in a research report on Tuesday, October 7th. They set an "outperform" rating and a $1,514.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Pivotal Research reissued a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Robert W. Baird lifted their price target on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Canaccord Genuity Group reissued a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,339.81.

Netflix Stock Performance

Shares of Netflix stock opened at $1,183.59 on Friday. The company has a market cap of $502.94 billion, a PE ratio of 50.43, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $1,213.72 and a 200-day moving average of $1,174.05. Netflix, Inc. has a 1-year low of $677.88 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same period in the prior year, the company posted $4.88 EPS. The company's revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.

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