Central Pacific Bank Trust Division Has $2.18 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Central Pacific Bank Trust Division cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,450 shares of the Internet television network’s stock after selling 18 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Netflix were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. First National Trust Co grew its position in Netflix by 4.5% in the second quarter. First National Trust Co now owns 1,403 shares of the Internet television network’s stock worth $947,000 after acquiring an additional 61 shares in the last quarter. Cozad Asset Management Inc. increased its position in Netflix by 29.1% during the second quarter. Cozad Asset Management Inc. now owns 879 shares of the Internet television network’s stock worth $593,000 after buying an additional 198 shares during the last quarter. Larson Financial Group LLC raised its holdings in Netflix by 2.6% during the second quarter. Larson Financial Group LLC now owns 2,229 shares of the Internet television network’s stock valued at $1,504,000 after buying an additional 56 shares in the last quarter. GPM Growth Investors Inc. acquired a new stake in shares of Netflix in the second quarter worth about $219,000. Finally, Stablepoint Partners LLC boosted its stake in shares of Netflix by 2.1% during the 2nd quarter. Stablepoint Partners LLC now owns 4,317 shares of the Internet television network’s stock worth $2,707,000 after acquiring an additional 90 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

Netflix stock traded up $1.63 during trading on Friday, hitting $888.36. The stock had a trading volume of 1,404,815 shares, compared to its average volume of 1,845,588. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $864.05 and its two-hundred day moving average is $744.71. Netflix, Inc. has a 1 year low of $466.53 and a 1 year high of $941.75. The stock has a market cap of $379.74 billion, a price-to-earnings ratio of 50.28, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 114,893 shares of company stock worth $93,859,830 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NFLX. Sanford C. Bernstein raised their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. TD Cowen raised their price target on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Wedbush reissued an “outperform” rating and issued a $950.00 target price (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. increased their price objective on Netflix from $850.00 to $1,010.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $813.00.

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.