Montecito Bank & Trust Buys 255 Shares of Netflix, Inc. (NASDAQ:NFLX)

Montecito Bank & Trust raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 29.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,123 shares of the Internet television network’s stock after buying an additional 255 shares during the period. Montecito Bank & Trust’s holdings in Netflix were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the period. Geode Capital Management LLC raised its holdings in shares of Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after acquiring an additional 123,029 shares in the last quarter. Jennison Associates LLC lifted its stake in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the period. International Assets Investment Management LLC grew its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Insider Activity at Netflix

In other news, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,500 shares of company stock valued at $123,309,210. 1.76% of the stock is owned by company insiders.

Netflix Stock Performance

NASDAQ:NFLX opened at $984.86 on Friday. The company has a market cap of $420.99 billion, a P/E ratio of 49.67, a P/E/G ratio of 1.53 and a beta of 1.27. The company’s 50-day moving average price is $889.11 and its 200-day moving average price is $763.41. Netflix, Inc. has a twelve month low of $537.07 and a twelve month high of $999.00. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. During the same quarter last year, the business posted $2.11 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts forecast that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NFLX shares. Wells Fargo & Company increased their price objective on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Robert W. Baird lifted their price target on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday. Loop Capital boosted their price target on Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Wednesday. Oppenheimer raised their price objective on Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Pivotal Research boosted their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $996.94.

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.