Chevy Chase Trust Holdings LLC Sells 4,563 Shares of Netflix, Inc. (NASDAQ:NFLX)

Chevy Chase Trust Holdings LLC lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 1.9% in the 3rd quarter, Holdings Channel reports. The firm owned 233,493 shares of the Internet television network’s stock after selling 4,563 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Netflix were worth $165,610,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Clear Street Derivatives LLC bought a new stake in Netflix in the third quarter worth about $495,000. Beck Capital Management LLC raised its stake in shares of Netflix by 0.6% during the third quarter. Beck Capital Management LLC now owns 3,904 shares of the Internet television network’s stock valued at $2,769,000 after acquiring an additional 24 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Netflix by 3,971.9% during the third quarter. Benjamin Edwards Inc. now owns 10,587 shares of the Internet television network’s stock valued at $7,509,000 after acquiring an additional 10,327 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Netflix during the third quarter valued at approximately $1,308,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Netflix during the third quarter valued at approximately $1,517,000. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Canaccord Genuity Group lifted their price target on shares of Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research note on Friday, October 18th. Piper Sandler reissued an “overweight” rating and set a $840.00 price objective (up from $800.00) on shares of Netflix in a report on Friday, October 18th. UBS Group lifted their price objective on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Rosenblatt Securities lifted their price objective on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $770.12.

Insider Activity at Netflix

In other Netflix news, Director Timothy M. Haley sold 647 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $800.19, for a total value of $517,722.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders sold 185,866 shares of company stock worth $133,393,921 over the last three months. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $886.81 on Monday. The firm has a market capitalization of $379.08 billion, a PE ratio of 50.19, a price-to-earnings-growth ratio of 1.71 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $908.00. The company’s fifty day moving average price is $773.01 and its 200-day moving average price is $700.75.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, equities research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

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.