Mechanics Bank Trust Department Sells 98 Shares of Netflix, Inc. (NASDAQ:NFLX)

Mechanics Bank Trust Department lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,495 shares of the Internet television network’s stock after selling 98 shares during the quarter. Mechanics Bank Trust Department’s holdings in Netflix were worth $2,224,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix in the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares in the last quarter. Decker Retirement Planning Inc. purchased a new position in Netflix during the fourth quarter valued at approximately $43,000. MidAtlantic Capital Management Inc. purchased a new position in Netflix during the third quarter valued at approximately $37,000. Finally, FSA Wealth Management LLC purchased a new stake in Netflix in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $858.10 on Monday. The company has a market capitalization of $366.80 billion, a P/E ratio of 48.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a twelve month low of $476.06 and a twelve month high of $941.75. 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 firm has a 50 day moving average of $884.58 and a 200 day moving average of $759.04.

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

Insiders Place Their Bets

In other news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now directly owns 246 shares in the company, valued at $216,327.48. This represents a 96.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the transaction, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,198 shares of company stock valued at $127,616,898. Company insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NFLX shares. Sanford C. Bernstein upped their price objective on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. The Goldman Sachs Group increased their target price on Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Loop Capital lowered their price target on shares of Netflix from $950.00 to $925.00 and set a “hold” rating for the company in a report on Thursday. TD Cowen increased their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Oppenheimer decreased their price objective on shares of Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $845.06.

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.