Truist Financial Corp Has $123.06 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Truist Financial Corp cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 252,750 shares of the Internet television network’s stock after selling 23,707 shares during the quarter. Truist Financial Corp’s holdings in Netflix were worth $123,059,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NFLX. International Assets Investment Management LLC grew its stake in shares of Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after purchasing an additional 2,061,859 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Netflix by 142.6% in the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after purchasing an additional 392,427 shares during the last quarter. Alecta Tjanstepension Omsesidigt grew its stake in shares of Netflix by 171.4% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 475,000 shares of the Internet television network’s stock worth $231,258,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Netflix in the third quarter worth $99,219,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on NFLX. Barclays boosted their price objective on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. TD Cowen upped their price target on shares of Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Wells Fargo & Company upped their price target on shares of Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. KeyCorp upped their price target on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, Needham & Company LLC raised shares of Netflix from a “hold” rating to a “buy” rating and set a $700.00 price target on the stock in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $630.58.

Insider Buying and Selling at Netflix

In other news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares in the company, valued at approximately $717,379.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares in the company, valued at approximately $717,379.74. 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 that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 154,573 shares of company stock worth $89,548,241. Insiders own 2.45% of the company’s stock.

Netflix Stock Down 0.6 %

NASDAQ:NFLX traded down $3.57 on Friday, hitting $561.23. The stock had a trading volume of 4,332,593 shares, compared to its average volume of 4,190,527. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07. The stock has a market cap of $241.83 billion, a P/E ratio of 38.95, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. Netflix, Inc. has a 1 year low of $315.62 and a 1 year high of $639.00. The firm’s fifty day simple moving average is $604.54 and its two-hundred day simple moving average is $519.46.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $2.88 EPS. Analysts predict that Netflix, Inc. will post 18.13 earnings per share for the current year.

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.