Hancock Whitney Corp trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.5% in the 4th quarter, HoldingsChannel reports. The firm owned 7,474 shares of the Internet television network’s stock after selling 190 shares during the quarter. Hancock Whitney Corp’s holdings in Netflix were worth $2,419,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Maverick Capital Ltd. boosted its stake in Netflix by 695.9% in the 3rd quarter. Maverick Capital Ltd. now owns 522,778 shares of the Internet television network’s stock worth $139,906,000 after purchasing an additional 457,098 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Netflix by 106.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 6,356 shares of the Internet television network’s stock worth $1,701,000 after acquiring an additional 3,271 shares in the last quarter. Bristlecone Advisors LLC raised its holdings in shares of Netflix by 14.7% during the 4th quarter. Bristlecone Advisors LLC now owns 2,086 shares of the Internet television network’s stock worth $675,000 after acquiring an additional 268 shares in the last quarter. Bath Savings Trust Co purchased a new stake in shares of Netflix during the 4th quarter worth approximately $211,000. Finally, Wealthstreet Investment Advisors LLC purchased a new stake in shares of Netflix during the 4th quarter worth approximately $215,000. Institutional investors and hedge funds own 80.69% of the company’s stock.
In other news, CEO Reed Hastings sold 83,692 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $336.61, for a total transaction of $28,171,564.12. Following the transaction, the chief executive officer now owns 83,692 shares of the company’s stock, valued at approximately $28,171,564.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jay C. Hoag sold 1,894 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $371.75, for a total value of $704,094.50. The disclosure for this sale can be found here. Insiders have sold a total of 140,102 shares of company stock worth $45,886,831 in the last three months. Corporate insiders own 4.29% of the company’s stock.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.78. Netflix had a return on equity of 28.45% and a net margin of 9.26%. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The business’s revenue was up 30.6% compared to the same quarter last year. Equities analysts forecast that Netflix, Inc. will post 6.06 EPS for the current year.
NFLX has been the topic of several recent research reports. KeyCorp reaffirmed a “hold” rating on shares of Netflix in a report on Monday, December 2nd. Robert W. Baird upped their price objective on Netflix from $300.00 to $350.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Bank of America reaffirmed a “buy” rating and set a $426.00 price objective on shares of Netflix in a report on Wednesday, February 5th. Royal Bank of Canada set a $420.00 price objective on Netflix and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Rosenblatt Securities upped their price objective on Netflix from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $380.00.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
Further Reading: Sell-Side Analysts
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