Trust Point Inc. Sells 1,048 Shares of Netflix, Inc. (NASDAQ:NFLX)

Trust Point Inc. lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 33.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,043 shares of the Internet television network’s stock after selling 1,048 shares during the period. Trust Point Inc.’s holdings in Netflix were worth $1,905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after acquiring an additional 171,712 shares during the last quarter. FMR LLC lifted its stake in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after acquiring an additional 175,596 shares during the last quarter. GAMMA Investing LLC raised its position in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Finally, Norges Bank bought a new position in Netflix during the 4th quarter valued at approximately $5,019,087,000. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of recent analyst reports. KeyCorp upped their price target on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Jefferies Financial Group upped their price target on Netflix from $1,200.00 to $1,400.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. Wells Fargo & Company upped their price target on Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Piper Sandler set a $1,150.00 price target on Netflix and gave the company an “overweight” rating in a research report on Monday, April 21st. Finally, Oppenheimer raised their target price on Netflix from $1,200.00 to $1,425.00 and gave the company an “outperform” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong 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 $1,156.73.

Netflix Trading Down 0.2%

Shares of NASDAQ:NFLX opened at $1,212.15 on Monday. The company has a market cap of $515.86 billion, a P/E ratio of 61.13, a PEG ratio of 2.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81. The stock’s fifty day moving average price is $1,120.37 and its 200-day moving average price is $1,000.96.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the prior year, the company posted $8.28 earnings per share. Sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at approximately $3,402,068.52. This trade represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock valued at $210,271,552 over the last ninety days. 1.37% of the stock is currently owned by corporate insiders.

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.