Old North State Trust LLC Purchases 27,354 Shares of Netflix, Inc. (NASDAQ:NFLX)

Old North State Trust LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 9,631.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,638 shares of the Internet television network’s stock after buying an additional 27,354 shares during the period. Old North State Trust LLC’s holdings in Netflix were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in Netflix by 7.5% during the first quarter. US Bancorp DE now owns 113,184 shares of the Internet television network’s stock worth $39,103,000 after purchasing an additional 7,872 shares during the period. ETF Managers Group LLC boosted its stake in shares of Netflix by 376.5% during the 1st quarter. ETF Managers Group LLC now owns 9,040 shares of the Internet television network’s stock worth $3,123,000 after acquiring an additional 7,143 shares during the period. Eagle Asset Management Inc. raised its stake in Netflix by 467.1% in the 1st quarter. Eagle Asset Management Inc. now owns 22,079 shares of the Internet television network’s stock valued at $7,627,000 after acquiring an additional 18,186 shares during the period. Money Concepts Capital Corp lifted its holdings in Netflix by 3.4% during the 1st quarter. Money Concepts Capital Corp now owns 1,039 shares of the Internet television network’s stock valued at $359,000 after purchasing an additional 34 shares during the last quarter. Finally, American National Bank increased its holdings in shares of Netflix by 170.7% in the first quarter. American National Bank now owns 268 shares of the Internet television network’s stock valued at $93,000 after purchasing an additional 169 shares during the last quarter. 79.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 4,954 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $422.24, for a total value of $2,091,776.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jay C. Hoag sold 4,954 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $422.24, for a total value of $2,091,776.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Theodore A. Sarandos sold 55,386 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $431.10, for a total transaction of $23,876,904.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,377 shares of company stock valued at $54,547,674. 2.45% of the stock is currently owned by company insiders.

Netflix Stock Performance

Netflix stock opened at $400.49 on Friday. The business has a 50 day moving average of $432.50 and a 200-day moving average of $383.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.33 and a quick ratio of 1.33. Netflix, Inc. has a 1 year low of $211.73 and a 1 year high of $485.00. The company has a market capitalization of $177.48 billion, a P/E ratio of 42.65, a P/E/G ratio of 1.47 and a beta of 1.29.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.44. Netflix had a net margin of 13.22% and a return on equity of 19.76%. The firm had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the firm earned $3.20 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Netflix, Inc. will post 11.92 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on NFLX. KeyCorp reissued a “sector weight” rating on shares of Netflix in a report on Thursday, July 20th. UBS Group lifted their price target on Netflix from $390.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, July 12th. Deutsche Bank Aktiengesellschaft upped their price objective on Netflix from $410.00 to $475.00 and gave the company a “buy” rating in a report on Monday, July 17th. Citigroup lifted their target price on Netflix from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, June 29th. Finally, Wolfe Research upped their price target on shares of Netflix from $485.00 to $500.00 in a research note on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $432.91.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.