First Merchants Corp Sells 189 Shares of Netflix, Inc. (NASDAQ:NFLX)

First Merchants Corp reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 41.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 263 shares of the Internet television network's stock after selling 189 shares during the quarter. First Merchants Corp's holdings in Netflix were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NFLX. Janus Henderson Group PLC raised its position in Netflix by 8.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after purchasing an additional 110,432 shares during the last quarter. PharVision Advisers LLC bought a new position in Netflix in the fourth quarter valued at about $873,000. New England Research & Management Inc. raised its position in Netflix by 148.5% in the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after purchasing an additional 1,268 shares during the last quarter. First National Trust Co raised its position in Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock valued at $1,121,000 after purchasing an additional 12 shares during the last quarter. Finally, Haven Private LLC bought a new position in Netflix in the fourth quarter valued at about $733,000. 80.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Jeffrey William Karbowski sold 620 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total value of $797,840.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jay C. Hoag sold 32,515 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the transaction, the director now owns 79,040 shares in the company, valued at $87,099,708.80. This represents a 29.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,280 shares of company stock worth $210,599,866 over the last 90 days. 1.37% of the stock is currently owned by corporate insiders.

Netflix Trading Up 1.3%

Shares of Netflix stock opened at $1,323.12 on Friday. 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 52 week low of $587.04 and a 52 week high of $1,331.35. The stock has a 50 day moving average price of $1,183.25 and a two-hundred day moving average price of $1,023.58. The stock has a market capitalization of $563.08 billion, a PE ratio of 62.53, a price-to-earnings-growth ratio of 2.53 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The firm had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter last year, the firm posted $8.28 earnings per share. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NFLX shares. Jefferies Financial Group increased their target price on Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. Rosenblatt Securities increased their price target on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Bank of America increased their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Finally, Piper Sandler set a $1,150.00 price target on Netflix and gave the company an "overweight" rating in a research note on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and a consensus target price of $1,172.73.

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.

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