Chevy Chase Trust Holdings LLC Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Chevy Chase Trust Holdings LLC decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 233,493 shares of the Internet television network’s stock after selling 4,563 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Netflix worth $165,610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clear Street Derivatives LLC purchased a new stake in shares of Netflix in the 3rd quarter worth approximately $495,000. Beck Capital Management LLC grew its stake in shares of Netflix by 0.6% in the 3rd quarter. Beck Capital Management LLC now owns 3,904 shares of the Internet television network’s stock worth $2,769,000 after buying an additional 24 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of Netflix by 3,971.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 10,587 shares of the Internet television network’s stock worth $7,509,000 after buying an additional 10,327 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Netflix in the 3rd quarter worth approximately $1,308,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Netflix in the 3rd quarter worth approximately $1,517,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 1.1 %

Shares of NFLX stock opened at $886.81 on Monday. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $908.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $379.08 billion, a PE ratio of 50.19, a PEG ratio of 1.71 and a beta of 1.25. The stock has a fifty day simple moving average of $773.01 and a two-hundred day simple moving average of $700.75.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The business 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%. On average, analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Activity

In other news, CEO Gregory K. Peters sold 4,392 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $9,490,250. This trade represents a 25.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at approximately $60,023.60. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock worth $133,393,921 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wolfe Research restated an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Bank of America upped their price objective on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Jefferies Financial Group upped their price objective on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $825.00 price objective (up from $770.00) on shares of Netflix 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 and twenty-five have assigned a buy rating to the company. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $770.12.

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.