Mechanics Bank Trust Department Sells 237 Shares of Netflix, Inc. (NASDAQ:NFLX)

Mechanics Bank Trust Department lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,741 shares of the Internet television network’s stock after selling 237 shares during the period. Mechanics Bank Trust Department’s holdings in Netflix were worth $1,850,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Valued Wealth Advisors LLC raised its holdings in Netflix by 80.0% in 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. Indiana Trust & Investment Management CO raised its stake 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 worth $32,000 after buying an additional 28 shares in the last quarter. VitalStone Financial LLC boosted its position in 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. Scarborough Advisors LLC bought a new stake in Netflix during the 4th quarter valued at approximately $32,000. Finally, Beaird Harris Wealth Management LLC raised its position in shares of Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In other news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,218 shares of company stock worth $60,687,405. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of Netflix stock traded up $3.59 during trading hours on Friday, hitting $633.94. The company’s stock had a trading volume of 1,980,836 shares, compared to its average volume of 3,921,475. The company has a market cap of $273.23 billion, a PE ratio of 43.99, a PEG ratio of 1.28 and a beta of 1.27. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The business has a 50 day moving average price of $652.98 and a two-hundred day moving average price of $618.88. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $697.49.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results 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 the consensus estimate of $9.53 billion. During the same period in the prior year, the company posted $3.29 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NFLX shares. Loop Capital upped their price target on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Pivotal Research upped their target price on shares of Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Argus lifted their price target on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Guggenheim boosted their price objective on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Evercore ISI upped their price objective on shares of Netflix from $700.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $681.21.

Netflix 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.