Truist Financial Corp Sells 23,707 Shares of Netflix, Inc. (NASDAQ:NFLX)

Truist Financial Corp trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 252,750 shares of the Internet television network’s stock after selling 23,707 shares during the quarter. Truist Financial Corp owned approximately 0.06% of Netflix worth $123,059,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Authentikos Wealth Advisory LLC purchased a new position in Netflix during the third quarter valued at approximately $25,000. Spartan Planning & Wealth Management purchased a new position in Netflix during the third quarter valued at approximately $26,000. Carmel Capital Partners LLC lifted its holdings in Netflix by 290.0% during the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 58 shares in the last quarter. Blue Bell Private Wealth Management LLC lifted its holdings in Netflix by 89.7% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock valued at $36,000 after purchasing an additional 35 shares in the last quarter. Finally, Pacifica Partners Inc. purchased a new position in Netflix during the fourth quarter valued at approximately $41,000. 80.93% of the stock is currently owned by institutional investors.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The disclosure for this sale can be found here. Insiders have sold 154,573 shares of company stock valued at $89,548,241 in the last 90 days. 2.45% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NFLX. Needham & Company LLC raised shares of Netflix from a “hold” rating to a “buy” rating and set a $700.00 target price on the stock in a report on Friday, April 19th. KeyCorp upped their price target on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. UBS Group upped their price target on shares of Netflix from $570.00 to $685.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Loop Capital boosted their price objective on shares of Netflix from $585.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Sanford C. Bernstein upped their price target on shares of Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $630.58.

Netflix Stock Performance

NASDAQ:NFLX traded down $3.57 during midday trading on Friday, hitting $561.23. The company’s stock had a trading volume of 4,332,593 shares, compared to its average volume of 4,190,527. Netflix, Inc. has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The firm’s 50 day moving average is $604.54 and its 200-day moving average is $519.46. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.12. The firm has a market cap of $241.83 billion, a P/E ratio of 38.95, a P/E/G ratio of 1.38 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the prior year, the company earned $2.88 EPS. Netflix’s quarterly revenue was up 14.8% on a year-over-year basis. Equities analysts anticipate that Netflix, Inc. will post 18.13 earnings per share for the current fiscal year.

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.