Coastline Trust Co Acquires 4,536 Shares of Netflix, Inc. (NASDAQ:NFLX)

Coastline Trust Co raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 38.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,198 shares of the Internet television network’s stock after purchasing an additional 4,536 shares during the period. Netflix accounts for approximately 1.9% of Coastline Trust Co’s holdings, making the stock its 14th biggest position. Coastline Trust Co’s holdings in Netflix were worth $15,105,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after purchasing an additional 257 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after acquiring an additional 144 shares in the last quarter. Modera Wealth Management LLC boosted its stake in shares of Netflix by 17.7% during the fourth quarter. Modera Wealth Management LLC now owns 2,070 shares of the Internet television network’s stock valued at $1,845,000 after purchasing an additional 312 shares in the last quarter. BIP Wealth LLC increased its holdings in shares of Netflix by 23.8% in the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network’s stock valued at $403,000 after acquiring an additional 87 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its holdings in Netflix by 0.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 33,820 shares of the Internet television network’s stock worth $30,144,000 after purchasing an additional 310 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NFLX shares. KeyCorp raised their price objective on Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. UBS Group upped their price objective on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Benchmark reiterated a “hold” rating on shares of Netflix in a research note on Monday, April 21st. Wells Fargo & Company upped their price target on shares of Netflix from $1,222.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Finally, Evercore ISI reissued an “outperform” rating on shares of Netflix in a report on Thursday, May 15th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,172.73.

Insider Buying and Selling

In other news, Director Reed Hastings sold 26,933 shares of Netflix stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the completion of the sale, the director directly owned 394 shares of the company’s stock, valued at approximately $477,394.04. The trade was a 98.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total value of $797,840.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 157,319 shares of company stock worth $184,842,109. Corporate insiders own 1.37% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $1,293.60 on Wednesday. The firm has a 50 day moving average of $1,195.33 and a two-hundred day moving average of $1,029.66. The stock has a market capitalization of $550.52 billion, a PE ratio of 61.13, a P/E/G ratio of 2.59 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period last year, the business posted $8.28 earnings per share. On average, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.