Essex Savings Bank Has $1.25 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Essex Savings Bank decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 3.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,765 shares of the Internet television network’s stock after selling 59 shares during the quarter. Essex Savings Bank’s holdings in Netflix were worth $1,252,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after buying an additional 149,341 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after buying an additional 106,756 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Netflix by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after buying an additional 104,332 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Netflix by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after buying an additional 83,762 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Loop Capital boosted their price target on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. UBS Group upped their target price on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Jefferies Financial Group upped their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Canaccord Genuity Group upped their target price on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Finally, Citigroup upped their target price on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $748.15.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $795.04 on Friday. Netflix, Inc. has a twelve month low of $434.35 and a twelve month high of $799.06. The firm has a market cap of $339.85 billion, a PE ratio of 44.99, a price-to-earnings-growth ratio of 1.50 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The business has a fifty day moving average of $721.55 and a 200-day moving average of $670.54.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. On average, equities research analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Activity

In other news, Director Jay C. Hoag sold 37,675 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $629.73, for a total value of $23,725,077.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jay C. Hoag sold 37,675 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $629.73, for a total value of $23,725,077.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 242,112 shares of company stock worth $169,954,456. 1.76% of the stock is 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.