CNB Bank Purchases 47 Shares of Netflix, Inc. (NASDAQ:NFLX)

CNB Bank boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,529 shares of the Internet television network’s stock after acquiring an additional 47 shares during the quarter. CNB Bank’s holdings in Netflix were worth $1,426,000 at the end of the most recent reporting period.

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

Netflix Stock Up 2.5%

NFLX opened at $1,306.67 on Friday. The company has a market capitalization of $556.08 billion, a P/E ratio of 61.75, a P/E/G ratio of 2.47 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The firm’s fifty day moving average price is $1,176.24 and its two-hundred day moving average price is $1,020.75. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,310.25.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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 company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same quarter in the prior year, the company posted $8.28 EPS. On average, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NFLX shares. Robert W. Baird upped their price target on Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Piper Sandler set a $1,150.00 target price on Netflix and gave the stock an “overweight” rating in a research report on Monday, April 21st. UBS Group lifted their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Needham & Company LLC restated a “buy” rating and issued a $1,126.00 price objective on shares of Netflix in a research note on Thursday, April 17th. Finally, Rosenblatt Securities raised their target price on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a research note on Monday, April 21st. Eleven equities 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,172.73.

Insider Buying and Selling

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the sale, the chief financial officer now owns 3,691 shares of the company’s stock, valued at approximately $3,402,068.52. This represents a 41.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total transaction of $797,840.80. The disclosure for this sale can be found here. Insiders sold 185,280 shares of company stock valued at $210,599,866 over the last quarter. Corporate insiders own 1.37% of the company’s stock.

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.