CNB Bank Has $1.32 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

CNB Bank reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,482 shares of the Internet television network’s stock after selling 83 shares during the period. CNB Bank’s holdings in Netflix were worth $1,321,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NFLX. International Assets Investment Management LLC boosted its position in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after buying an additional 642,920 shares during the period. State Street Corp boosted its holdings in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Netflix in the 3rd quarter valued at $222,871,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

NFLX stock opened at $856.08 on Friday. The stock’s 50 day simple moving average is $882.41 and its 200 day simple moving average is $756.61. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 12-month low of $476.06 and a 12-month high of $941.75. The stock has a market capitalization of $365.94 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Guggenheim upped their price objective on shares of Netflix from $825.00 to $950.00 and gave the company a “buy” rating in a report on Monday. Sanford C. Bernstein boosted their price objective on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Jefferies Financial Group upped their price objective on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, TD Cowen raised their price objective on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average target price of $845.06.

Insiders Place Their Bets

In related news, Director Richard N. Barton sold 5,698 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the transaction, the director now owns 246 shares of the company’s stock, valued at approximately $185,976. This trade represents a 95.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 41,601 shares of Netflix stock in a transaction on Friday, November 1st. The stock was sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the transaction, the chairman now owns 85 shares in the company, valued at $64,435.10. This represents a 99.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,198 shares of company stock valued at $127,616,898. Insiders own 1.76% of the company’s stock.

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.