Montecito Bank & Trust Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

Montecito Bank & Trust raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 29.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,123 shares of the Internet television network’s stock after acquiring an additional 255 shares during the quarter. Montecito Bank & Trust’s holdings in Netflix were worth $1,001,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cerro Pacific Wealth Advisors LLC increased its holdings in Netflix by 3.7% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 971 shares of the Internet television network’s stock worth $865,000 after purchasing an additional 35 shares during the period. FCG Investment Co increased its stake in shares of Netflix by 9.2% during the fourth quarter. FCG Investment Co now owns 2,325 shares of the Internet television network’s stock worth $2,072,000 after buying an additional 195 shares during the period. Yeomans Consulting Group Inc. raised its holdings in Netflix by 39.7% in the fourth quarter. Yeomans Consulting Group Inc. now owns 704 shares of the Internet television network’s stock valued at $627,000 after acquiring an additional 200 shares in the last quarter. Donoghue Forlines LLC lifted its stake in Netflix by 6.5% in the fourth quarter. Donoghue Forlines LLC now owns 2,279 shares of the Internet television network’s stock worth $2,031,000 after acquiring an additional 139 shares during the last quarter. Finally, Goldstein Advisors LLC grew its holdings in Netflix by 20.0% during the 4th quarter. Goldstein Advisors LLC now owns 511 shares of the Internet television network’s stock worth $455,000 after acquiring an additional 85 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

NFLX stock opened at $984.86 on Friday. The firm has a market cap of $420.99 billion, a P/E ratio of 49.67, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. Netflix, Inc. has a 1 year low of $537.07 and a 1 year high of $999.00. The stock has a 50-day simple moving average of $889.11 and a 200-day simple moving average of $763.41.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 EPS. On average, equities analysts predict that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Reed Hastings sold 41,601 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at approximately $64,435.10. This trade represents a 99.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,500 shares of company stock worth $123,309,210 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the subject of several recent analyst reports. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a research report on Thursday. The Goldman Sachs Group lifted their price target on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday. Macquarie upped their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Cowen boosted their target price on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Bank of America raised their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $996.94.

Netflix Company 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.