US Bancorp DE Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• US Bancorp DE has reduced its stake in Netflix by 0.8%, selling 1,021 shares and now holding 119,287 shares valued at $111.24 million.
• Analysts have mixed ratings for Netflix, with a consensus rating of "Moderate Buy" and a current target price of $1,297.66, amid forecasts of strong earnings growth.
• Recent insider transactions indicate significant selling, with Director Strive Masiyiwa and CFO Spencer Adam Neumann offloading shares worth over $3.79 million collectively.

US Bancorp DE lowered its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,287 shares of the Internet television network's stock after selling 1,021 shares during the period. US Bancorp DE's holdings in Netflix were worth $111,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Nicolet Advisory Services LLC raised its position in shares of Netflix by 3.2% during the 1st quarter. Nicolet Advisory Services LLC now owns 1,515 shares of the Internet television network's stock worth $1,396,000 after acquiring an additional 47 shares in the last quarter. Momentous Wealth Management Inc. raised its position in shares of Netflix by 5.1% during the 1st quarter. Momentous Wealth Management Inc. now owns 289 shares of the Internet television network's stock worth $270,000 after acquiring an additional 14 shares in the last quarter. Shufro Rose & Co. LLC acquired a new stake in shares of Netflix during the 1st quarter worth about $200,000. Pasadena Private Wealth LLC raised its position in shares of Netflix by 6.1% during the 1st quarter. Pasadena Private Wealth LLC now owns 471 shares of the Internet television network's stock worth $439,000 after acquiring an additional 27 shares in the last quarter. Finally, Coastal Bridge Advisors LLC raised its position in shares of Netflix by 0.7% during the 1st quarter. Coastal Bridge Advisors LLC now owns 1,369 shares of the Internet television network's stock worth $1,277,000 after acquiring an additional 10 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Price Performance

Shares of Netflix stock traded down $0.80 during trading on Friday, reaching $1,158.60. The company's stock had a trading volume of 3,886,745 shares, compared to its average volume of 3,831,108. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a market capitalization of $492.32 billion, a P/E ratio of 49.37, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59. The business has a 50 day moving average price of $1,234.32 and a 200-day moving average price of $1,082.35.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America raised their target price on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Jefferies Financial Group set a $1,500.00 target price on Netflix and gave the stock a "buy" rating in a research report on Friday, July 18th. TD Cowen lifted their price target on Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Rosenblatt Securities lifted their price target on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Piper Sandler lifted their price target on Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the sale, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 620 shares of the business's stock in a transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,830 shares of company stock valued at $153,102,930. 1.37% of the stock is owned by company insiders.

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.