Truist Financial Corp Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

Truist Financial Corp grew its position in Netflix, Inc. (NASDAQ:NFLX) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 262,700 shares of the Internet television network’s stock after buying an additional 5,465 shares during the quarter. Truist Financial Corp owned 0.06% of Netflix worth $234,150,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NFLX. International Assets Investment Management LLC lifted its stake in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares during the last quarter. State Street Corp lifted its stake in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Netflix by 112,896.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after purchasing an additional 381,590 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 4,939 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the transaction, the chief executive officer now owns 12,950 shares in the company, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction that occurred on 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. Over the last 90 days, insiders have sold 303,809 shares of company stock worth $290,374,484. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Performance

Shares of NFLX stock opened at $1,058.60 on Monday. The company has a market capitalization of $452.83 billion, a P/E ratio of 53.38, a P/E/G ratio of 2.11 and a beta of 1.27. The business’s 50 day moving average is $929.40 and its two-hundred day moving average is $806.53. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.11 earnings per share. Analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NFLX. Deutsche Bank Aktiengesellschaft upped their price objective on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $975.00 to $1,200.00 in a research note on Friday, January 24th. Loop Capital upped their target price on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Guggenheim upped their target price on Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Robert W. Baird upped their target price on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

About Netflix

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.