Canandaigua National Bank & Trust Co. Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Canandaigua National Bank & Trust Co. lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 19.2% during the first quarter, HoldingsChannel reports. The firm owned 4,102 shares of the Internet television network’s stock after selling 973 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Netflix were worth $2,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Johnson Investment Counsel Inc. grew its holdings in Netflix by 37.2% during the third quarter. Johnson Investment Counsel Inc. now owns 2,889 shares of the Internet television network’s stock worth $1,091,000 after acquiring an additional 783 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in Netflix during the third quarter worth $17,900,000. Envestnet Asset Management Inc. boosted its position in Netflix by 28.9% during the third quarter. Envestnet Asset Management Inc. now owns 741,994 shares of the Internet television network’s stock worth $280,177,000 after purchasing an additional 166,327 shares in the last quarter. Nordea Investment Management AB boosted its position in Netflix by 30.7% during the third quarter. Nordea Investment Management AB now owns 310,346 shares of the Internet television network’s stock worth $117,041,000 after purchasing an additional 72,879 shares in the last quarter. Finally, TRUE Private Wealth Advisors boosted its position in Netflix by 5.4% during the third quarter. TRUE Private Wealth Advisors now owns 815 shares of the Internet television network’s stock worth $308,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $18,764,328.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, insider David A. Hyman sold 268 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 4,783 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The disclosure for this sale can be found here. Insiders sold a total of 69,425 shares of company stock worth $41,919,791 in the last three months. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the topic of several recent research reports. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Monday, February 26th. Guggenheim increased their target price on Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Bank of America increased their target price on Netflix from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. BMO Capital Markets reiterated an “outperform” rating and set a $713.00 target price (up from $638.00) on shares of Netflix in a research report on Wednesday, April 17th. Finally, KeyCorp increased their target price on Netflix from $705.00 to $707.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.53.

Netflix Trading Up 1.4 %

Shares of NFLX traded up $9.49 during trading hours on Tuesday, reaching $685.32. The stock had a trading volume of 1,579,703 shares, compared to its average volume of 4,025,203. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $686.44. The firm has a 50-day moving average of $616.48 and a 200 day moving average of $571.10. The company has a market cap of $295.37 billion, a P/E ratio of 47.10, a P/E/G ratio of 1.45 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period in the prior year, the business earned $2.88 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, sell-side analysts expect that Netflix, Inc. will post 18.31 earnings per share for the current fiscal 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.