Central Pacific Bank Trust Division Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Central Pacific Bank Trust Division trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 27.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,468 shares of the Internet television network’s stock after selling 949 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Netflix were worth $1,750,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DigitalBridge Group Inc. lifted its position in shares of Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the period. M&G Plc bought a new position in shares of Netflix in the 1st quarter worth $9,682,000. BSN CAPITAL PARTNERS Ltd lifted its stake in shares of Netflix by 24.4% during the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after purchasing an additional 49,000 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after purchasing an additional 30,511 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in shares of Netflix during the fourth quarter valued at about $9,513,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ NFLX opened at $711.09 on Thursday. 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 stock’s fifty day moving average is $673.63 and its two-hundred day moving average is $646.74. The firm has a market capitalization of $306.48 billion, a P/E ratio of 49.35, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $725.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter in the previous year, the company posted $3.29 EPS. The company’s revenue was up 16.8% compared to the same quarter last year. On average, research analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. Insiders sold 224,784 shares of company stock worth $150,212,870 in the last 90 days. Insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NFLX. TD Cowen increased their target price on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Redburn Atlantic increased their price objective on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Benchmark upped their price target on shares of Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price objective on shares of Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Finally, Argus boosted their price target on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $686.03.

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.