Grove Bank & Trust Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Grove Bank & Trust raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,215 shares of the Internet television network’s stock after buying an additional 213 shares during the quarter. Grove Bank & Trust’s holdings in Netflix were worth $3,757,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NFLX. Advisory Resource Group lifted its holdings in shares of Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after buying an additional 12 shares in the last quarter. Insight Wealth Strategies LLC grew its stake in Netflix by 1.9% during the fourth quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock valued at $585,000 after acquiring an additional 12 shares in the last quarter. Sunflower Bank N.A. increased its holdings in Netflix by 2.1% in the 4th quarter. Sunflower Bank N.A. now owns 575 shares of the Internet television network’s stock valued at $513,000 after acquiring an additional 12 shares during the last quarter. New World Advisors LLC lifted its stake in Netflix by 2.0% in the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after purchasing an additional 14 shares in the last quarter. Finally, Trust Co. of Vermont boosted its holdings in shares of Netflix by 2.5% during the 4th quarter. Trust Co. of Vermont now owns 570 shares of the Internet television network’s stock valued at $508,000 after purchasing an additional 14 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 5,698 shares of Netflix stock in a transaction on Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the transaction, the director now owns 246 shares in the company, valued at $185,976. This represents a 95.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock valued at $127,616,898 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NFLX. TD Cowen lifted their target price on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Oppenheimer reduced their price objective on Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating on the stock in a research note on Wednesday. Evercore ISI increased their target price on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. UBS Group boosted their price target on shares of Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC increased their price objective on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $845.06.

Netflix Price Performance

Shares of NFLX stock opened at $858.10 on Friday. The company has a market capitalization of $366.80 billion, a P/E ratio of 48.56, a P/E/G ratio of 1.35 and a beta of 1.27. The company’s 50-day simple moving average is $884.58 and its two-hundred day simple moving average is $758.48. Netflix, Inc. has a one year low of $476.06 and a one year high of $941.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

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

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.