CNB Bank Sells 83 Shares of Netflix, Inc. (NASDAQ:NFLX)

CNB Bank lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,482 shares of the Internet television network’s stock after selling 83 shares during the period. CNB Bank’s holdings in Netflix were worth $1,321,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NFLX. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix during the third quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in Netflix in the 4th quarter worth approximately $43,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Netflix during the 3rd quarter worth approximately $37,000. Finally, FSA Wealth Management LLC bought a new position in shares of Netflix during the 3rd quarter valued at approximately $38,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the transaction, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock worth $127,616,898 over the last three months. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Up 1.6 %

NFLX opened at $856.08 on Friday. The company has a fifty day moving average of $882.41 and a two-hundred day moving average of $756.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a fifty-two week low of $476.06 and a fifty-two week high of $941.75. The stock has a market capitalization of $365.94 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 1.35 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, research analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Argus upped their price target on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Citigroup lifted their price target on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Pivotal Research lifted their target price on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $680.00 price objective on shares of Netflix in a research note on Thursday. Finally, KeyCorp raised their target price on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $845.06.

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.