Amalgamated Bank Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Amalgamated Bank cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,315 shares of the Internet television network’s stock after selling 1,327 shares during the period. Netflix comprises approximately 0.5% of Amalgamated Bank’s portfolio, making the stock its 23rd largest position. Amalgamated Bank’s holdings in Netflix were worth $62,302,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Denver PWM LLC acquired a new stake in shares of Netflix in the 2nd quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its stake in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares during the last quarter. Proffitt & Goodson Inc. boosted its holdings in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares during the period. AlphaMark Advisors LLC grew its position in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the last quarter. Finally, Indiana Trust & Investment Management CO grew its position in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Buying and Selling

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Netflix news, Director Leslie J. Kilgore sold 1,372 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total value of $966,999.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the transaction, the director now directly owns 95,040 shares of the company’s stock, valued at approximately $65,299,132.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,798 shares of company stock worth $129,552,672. 1.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group increased their price target on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley increased their target price on shares of Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Benchmark boosted their price target on Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research report on Tuesday, July 16th. Rosenblatt Securities upped their price objective on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Piper Sandler lifted their target price on Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Stock Up 1.5 %

Shares of NASDAQ NFLX opened at $706.91 on Wednesday. The firm’s 50-day moving average is $660.64 and its two-hundred day moving average is $639.15. The company has a market capitalization of $304.68 billion, a PE ratio of 49.06, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $711.33. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.29 EPS. Equities analysts anticipate that Netflix, Inc. will post 19.08 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.