Grove Bank & Trust Has $2.41 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Grove Bank & Trust decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 38.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,582 shares of the Internet television network's stock after selling 1,633 shares during the quarter. Grove Bank & Trust's holdings in Netflix were worth $2,408,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix during the 4th quarter valued at $27,000. Transce3nd LLC acquired a new stake in shares of Netflix during the 4th quarter valued at $32,000. Copia Wealth Management acquired a new stake in shares of Netflix during the 4th quarter valued at $37,000. Stuart Chaussee & Associates Inc. lifted its holdings in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares during the period. Finally, NewSquare Capital LLC lifted its holdings in Netflix by 120.0% during the 4th quarter. NewSquare Capital LLC now owns 55 shares of the Internet television network's stock worth $49,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Insiders Place Their Bets

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director now directly owns 63,040 shares of the company's stock, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,140 shares of company stock valued at $210,271,552. Corporate insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

NFLX has been the topic of several recent research reports. Cfra Research raised Netflix to a "strong-buy" rating in a report on Monday, April 28th. Piper Sandler set a $1,150.00 target price on Netflix and gave the stock an "overweight" rating in a report on Monday, April 21st. Rosenblatt Securities lifted their target price on Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Canaccord Genuity Group lifted their target price on Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Oppenheimer lifted their target price on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,156.73.

Netflix Trading Up 1.1%

NASDAQ:NFLX opened at $1,225.35 on Tuesday. 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 firm has a 50-day moving average of $1,127.47 and a 200-day moving average of $1,003.32. The company has a market cap of $521.47 billion, a PE ratio of 61.79, a PEG ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,262.81.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the prior year, the firm posted $8.28 EPS. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Netflix 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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