Global Trust Asset Management LLC Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Global Trust Asset Management LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 728 shares of the Internet television network’s stock after selling 40 shares during the quarter. Global Trust Asset Management LLC’s holdings in Netflix were worth $649,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NFLX. International Assets Investment Management LLC lifted its position in Netflix by 116,620.0% during the third 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 acquiring an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares in the last quarter. State Street Corp increased its position in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Netflix in the 3rd quarter worth $222,871,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Up 1.3 %

Netflix stock opened at $869.68 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $371.75 billion, a PE ratio of 49.22, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The business has a 50 day simple moving average of $886.64 and a 200-day simple moving average of $762.07. Netflix, Inc. has a 12 month low of $479.90 and a 12 month high of $941.75.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.11 EPS. On average, analysts anticipate that Netflix, Inc. will post 19.76 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now owns 246 shares of the company’s stock, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. This trade represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock valued at $127,616,898 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NFLX shares. KeyCorp upped their target price on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Piper Sandler lifted their target price on shares of Netflix from $840.00 to $950.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday. Finally, Sanford C. Bernstein lifted their price objective on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $952.30.

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.