Eastern Bank Acquires 949 Shares of Netflix, Inc. (NASDAQ:NFLX)

Eastern Bank lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,786 shares of the Internet television network’s stock after acquiring an additional 949 shares during the period. Eastern Bank’s holdings in Netflix were worth $14,034,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. DigitalBridge Group Inc. boosted its stake in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares during the last quarter. M&G Plc purchased a new stake in Netflix during the first quarter valued at approximately $9,682,000. BSN CAPITAL PARTNERS Ltd raised its position in Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after purchasing an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after purchasing an additional 30,511 shares during the period. Finally, First Trust Direct Indexing L.P. raised its holdings in shares of Netflix by 14.9% in the first quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock worth $6,274,000 after buying an additional 1,342 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at $35,991.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the sale, the chairman now directly owns 57 shares in the company, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Leslie J. Kilgore sold 358 shares of Netflix stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the sale, the director now owns 35,262 shares in the company, valued at approximately $26,975,430. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 229,711 shares of company stock worth $153,905,830 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NFLX. Citigroup increased their price target on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. The Goldman Sachs Group set a $750.00 price objective on Netflix in a report on Friday. Needham & Company LLC raised their price objective on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer raised their price objective on Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Morgan Stanley increased their target price on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $747.70.

Netflix Stock Performance

Shares of NASDAQ NFLX traded down $6.24 during trading on Tuesday, reaching $765.83. 1,895,993 shares of the company traded hands, compared to its average volume of 3,725,900. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 12-month low of $395.62 and a 12-month high of $773.00. The firm’s fifty day simple moving average is $699.16 and its 200 day simple moving average is $656.21. The stock has a market cap of $330.07 billion, a P/E ratio of 53.21, a PEG ratio of 1.49 and a beta of 1.26.

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.