Trustmark National Bank Trust Department Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Trustmark National Bank Trust Department lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 55.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,025 shares of the Internet television network’s stock after acquiring an additional 1,085 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Netflix were worth $2,146,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Denver PWM LLC purchased a new position in Netflix during the 2nd quarter valued at about $25,000. Proffitt & Goodson Inc. increased its holdings in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its stake in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after buying an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in Netflix during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of Netflix stock opened at $883.85 on Thursday. The firm has a market cap of $377.81 billion, a PE ratio of 50.02, a P/E/G ratio of 1.68 and a beta of 1.25. The business has a 50-day moving average price of $747.20 and a 200 day moving average price of $686.80. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $890.60.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Sell-side analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Canaccord Genuity Group boosted their price target on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on shares of Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Sanford C. Bernstein boosted their price objective on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Rosenblatt Securities raised their target price on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, KeyCorp increased their price objective on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $758.76.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $57,878.20. This trade represents a 99.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,866 shares of company stock valued at $133,393,921 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

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.