Netflix, Inc. $NFLX Stock Purchased by Rockland Trust Co.

Key Points

• Rockland Trust increased its Netflix stake by 27.5% in the third quarter, acquiring 47,339 additional shares and bringing its holdings to 219,221 shares valued at approximately $15.3 million.
• Netflix shares were trading at $66.88, near their 12-month low, despite the company beating quarterly EPS expectations and reporting 13.4% year-over-year revenue growth. Institutional investors own about 80.9% of the stock.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $95.27 price target, although several firms recently reduced their targets. Insiders sold roughly $13.1 million of shares over the past 90 days.

Rockland Trust Co. grew its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 27.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 219,221 shares of the Internet television network's stock after acquiring an additional 47,339 shares during the quarter. Rockland Trust Co.'s holdings in Netflix were worth $15,253,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Financial Management LLC purchased a new stake in shares of Netflix in the fourth quarter worth about $26,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in Netflix during the second quarter worth $26,000. Compound Global Advisors LLC acquired a new position in shares of Netflix during the 2nd quarter worth about $29,000. Burnham & Co LLC purchased a new position in shares of Netflix in the second quarter valued at approximately $29,000. Finally, Cedar Mountain Advisors LLC boosted its stake in Netflix by 712.5% during the 4th quarter. Cedar Mountain Advisors LLC now owns 325 shares of the Internet television network's stock worth $30,000 after purchasing an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Trading Down 0.3%

NASDAQ NFLX traded down $0.18 on Monday, reaching $66.88. The stock had a trading volume of 16,594,303 shares, compared to its average volume of 42,486,203. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $278.48 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 0.95 and a beta of 1.62. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $124.86. The stock has a fifty day moving average price of $75.73 and a two-hundred day moving average price of $82.16.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.01. The company had revenue of $12.56 billion during the quarter, compared to analysts' expectations of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.Netflix's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, insider David Hyman sold 5,723 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total transaction of $416,920.55. Following the completion of the transaction, the insider directly owned 316,100 shares of the company's stock, valued at $23,027,885. The trade was a 1.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard Barton sold 2,160 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $75.10, for a total transaction of $162,216.00. Following the transaction, the director owned 246 shares of the company's stock, valued at $18,474.60. This trade represents a 89.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 179,045 shares of company stock valued at $13,132,194 in the last 90 days. Insiders own 1.24% of the company's stock.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent research reports. CICC Research reduced their target price on shares of Netflix from $110.00 to $90.00 and set an "outperform" rating for the company in a research report on Tuesday, July 21st. Sanford C. Bernstein initiated coverage on shares of Netflix in a research note on Monday, September 28th. They set a "buy" rating for the company. Itau BBA Securities cut their price objective on shares of Netflix from $151.40 to $96.00 and set an "outperform" rating for the company in a report on Wednesday, August 5th. UBS Group decreased their target price on shares of Netflix from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, July 17th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Netflix in a report on Tuesday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.27.

Netflix Company Profile

Netflix, Inc NASDAQ: NFLX is a global entertainment company that operates a subscription-based streaming service. It offers a broad range of television series, films, documentaries, and other programming, including original productions developed under the Netflix brand and licensed content from third-party studios.

The company also provides advertising-supported viewing options in some markets and has expanded into related entertainment categories, including mobile and cloud-based games, live programming, and consumer products associated with selected titles.

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