Legacy Private Trust Co. Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Legacy Private Trust Co. decreased its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,027 shares of the Internet television network's stock after selling 247 shares during the period. Legacy Private Trust Co.'s holdings in Netflix were worth $2,823,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of NFLX. Pathway Financial Advisers LLC raised its stake in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after purchasing an additional 14 shares in the last quarter. Brown Shipley& Co Ltd bought a new stake in Netflix in the 4th quarter valued at $27,000. Transce3nd LLC bought a new stake in Netflix in the 4th quarter valued at $32,000. Newton One Investments LLC bought a new stake in Netflix in the 4th quarter valued at $34,000. Finally, Pineridge Advisors LLC raised its stake in Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after acquiring an additional 40 shares during the period. Institutional investors own 80.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NFLX. 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. Barclays increased their price target on Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a research note on Monday, April 21st. Pivotal Research increased their price target on Netflix from $1,250.00 to $1,350.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Bank of America upped their price objective on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday. Finally, Citigroup reaffirmed a "neutral" rating and issued a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and an average target price of $1,122.33.

Netflix Price Performance

NASDAQ:NFLX traded up $17.26 during trading hours on Friday, hitting $1,202.12. The company's stock had a trading volume of 4,686,095 shares, compared to its average volume of 3,758,665. The stock has a fifty day simple moving average of $1,059.27 and a 200-day simple moving average of $974.30. The company has a market capitalization of $511.59 billion, a P/E ratio of 60.62, a PEG ratio of 2.12 and a beta of 1.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,215.91.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period last year, the company earned $8.28 earnings per share. On average, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the transaction, the chief financial officer now owns 3,691 shares of the company's stock, valued at $3,624,746.55. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Insiders sold 133,348 shares of company stock worth $139,087,908 over the last ninety days. 1.37% of the stock is owned by insiders.

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.