Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Cambridge Trust Co.

Cambridge Trust Co. cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 57.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88 shares of the Internet television network’s stock after selling 119 shares during the period. Cambridge Trust Co.’s holdings in Netflix were worth $53,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Valued Wealth Advisors LLC increased its position in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares in the last quarter. VitalStone Financial LLC lifted its holdings in shares of Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its position in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares during the period. Scarborough Advisors LLC acquired a new stake in Netflix in the 4th quarter valued at $32,000. Finally, Indiana Trust & Investment Management CO raised its position in Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NFLX shares. Rosenblatt Securities increased their target price on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Guggenheim boosted their target price on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Morgan Stanley raised their price target on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a report on Monday, July 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $713.00 price objective (up previously from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Finally, Macquarie restated an “outperform” rating and set a $685.00 target price on shares of Netflix in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $681.21.

Netflix Price Performance

NASDAQ:NFLX traded down $11.21 during trading hours on Friday, reaching $613.64. 3,523,003 shares of the company’s stock were exchanged, compared to its average volume of 3,930,496. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $263.36 billion, a P/E ratio of 42.58, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $697.49. The business’s 50-day simple moving average is $656.10 and its two-hundred day simple moving average is $613.76.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same period last year, the company posted $3.29 EPS. The company’s revenue was up 16.8% compared to the same quarter last year. Sell-side analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 564 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, Chairman Reed Hastings sold 19,943 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $633.58, for a total value of $12,635,485.94. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at approximately $36,114.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 564 shares of Netflix stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The disclosure for this sale can be found here. Insiders have sold 73,415 shares of company stock worth $47,477,222 over the last 90 days. 1.76% of the stock is owned by company insiders.

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.