Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Commerce Bank

Commerce Bank trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 9.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,598 shares of the Internet television network’s stock after selling 1,779 shares during the period. Commerce Bank’s holdings in Netflix were worth $10,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NFLX. Valued Wealth Advisors LLC grew its position in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares during the last quarter. Indiana Trust & Investment Management CO raised its position in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares during the period. VitalStone Financial LLC lifted its holdings in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the last quarter. Scarborough Advisors LLC purchased a new position in Netflix in the 4th quarter worth about $32,000. Finally, Beaird Harris Wealth Management LLC raised its holdings in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.6 %

Shares of NFLX stock traded down $4.00 on Wednesday, reaching $681.74. The company had a trading volume of 1,459,222 shares, compared to its average volume of 3,890,753. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $697.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a market cap of $293.83 billion, a PE ratio of 47.00, a PEG ratio of 1.48 and a beta of 1.27. The company has a 50-day moving average of $646.07 and a 200-day moving average of $594.86.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.88 earnings per share. On average, equities analysts forecast that Netflix, Inc. will post 18.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NFLX shares. Loop Capital raised their price objective on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Piper Sandler upped their price target on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of Netflix in a research note on Monday, June 17th. Macquarie upped their target price on Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Finally, Jefferies Financial Group restated a “buy” rating and set a $655.00 price target on shares of Netflix in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $639.57.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the sale, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the transaction, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,385 shares of company stock worth $44,469,351. Corporate insiders own 1.76% of the company’s stock.

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.