Truist Financial Corp Sells 5,422 Shares of Netflix, Inc. (NASDAQ:NFLX)

Truist Financial Corp lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 253,407 shares of the Internet television network’s stock after selling 5,422 shares during the quarter. Truist Financial Corp owned approximately 0.06% of Netflix worth $171,019,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Next Capital Management LLC grew its holdings in Netflix by 5.2% during the 2nd quarter. Next Capital Management LLC now owns 1,513 shares of the Internet television network’s stock worth $1,021,000 after acquiring an additional 75 shares during the period. Old North State Trust LLC boosted its position in shares of Netflix by 10.8% in the 2nd quarter. Old North State Trust LLC now owns 677 shares of the Internet television network’s stock worth $457,000 after purchasing an additional 66 shares during the last quarter. HWG Holdings LP bought a new position in shares of Netflix in the 2nd quarter worth $1,900,000. EP Wealth Advisors LLC grew its stake in shares of Netflix by 57.2% during the second quarter. EP Wealth Advisors LLC now owns 17,290 shares of the Internet television network’s stock worth $11,668,000 after purchasing an additional 6,288 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in Netflix in the second quarter valued at about $253,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Up 0.3 %

NASDAQ NFLX opened at $709.27 on Tuesday. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $725.26. The business’s fifty day moving average is $670.86 and its 200 day moving average is $645.58. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market cap of $305.70 billion, a price-to-earnings ratio of 49.22, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the firm posted $3.29 earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year. As a group, sell-side analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Benchmark raised their target price on Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a report on Tuesday, July 16th. Evercore ISI lifted their price objective on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 27th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $635.00 target price on shares of Netflix in a research note on Friday, September 20th. UBS Group lifted their price target on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, KeyCorp upped their price objective on shares of Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $35,991.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Leslie J. Kilgore sold 402 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $291,450.00. Following the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,564,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,494 shares of company stock worth $118,230,884. Company insiders own 1.76% of the company’s stock.

Netflix 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.