Ledyard National Bank Invests $213,000 in Netflix, Inc. (NASDAQ:NFLX)

Ledyard National Bank acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 301 shares of the Internet television network’s stock, valued at approximately $213,000.

Several other hedge funds have also modified their holdings of the company. Heartland Bank & Trust Co raised its holdings in shares of Netflix by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after acquiring an additional 15 shares in the last quarter. Cedrus LLC raised its holdings in Netflix by 0.8% during the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after buying an additional 15 shares during the period. Meritas Wealth Management LLC raised its holdings in Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after buying an additional 16 shares during the period. Stage Harbor Financial LLC raised its holdings in Netflix by 4.8% during the 3rd quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock valued at $250,000 after buying an additional 16 shares during the period. Finally, Compass Ion Advisors LLC raised its holdings in Netflix by 4.5% during the 3rd quarter. Compass Ion Advisors LLC now owns 369 shares of the Internet television network’s stock valued at $262,000 after buying an additional 16 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Pivotal Research increased their price target on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a report on Friday, October 18th. Canaccord Genuity Group increased their price target on Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group set a $750.00 price target on Netflix in a report on Friday. Jefferies Financial Group increased their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company upped their price objective on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Price Performance

Shares of NFLX stock opened at $764.24 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50-day moving average is $701.48 and its 200 day moving average is $657.11. The company has a market cap of $329.39 billion, a P/E ratio of 53.04, a PEG ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a 1-year low of $395.62 and a 1-year high of $773.00.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 20,656 shares of Netflix 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 sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David A. Hyman sold 20,656 shares of Netflix 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 sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 229,711 shares of company stock valued at $153,905,830 over the last ninety days. Insiders own 1.76% of the company’s stock.

About Netflix

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.