Montecito Bank & Trust Grows Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Montecito Bank & Trust grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 14.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 868 shares of the Internet television network’s stock after acquiring an additional 110 shares during the quarter. Montecito Bank & Trust’s holdings in Netflix were worth $616,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NFLX. Denver PWM LLC acquired a new position in shares of Netflix during the second quarter valued at about $25,000. Proffitt & Goodson Inc. increased its holdings in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its holdings in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the period. AlphaMark Advisors LLC increased its holdings in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after buying an additional 45 shares during the period. Finally, Triad Wealth Partners LLC acquired a new position in Netflix in the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 2.1 %

Shares of NASDAQ:NFLX opened at $796.54 on Friday. The company has a market capitalization of $340.49 billion, a price-to-earnings ratio of 45.08, a PEG ratio of 1.46 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $717.59 and a 200 day moving average price of $667.98. Netflix, Inc. has a 12-month low of $433.68 and a 12-month high of $798.22.

Analyst Ratings Changes

NFLX has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating and issued a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Guggenheim upped their price objective on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Rosenblatt Securities upped their price objective on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Canaccord Genuity Group increased their target price on Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Finally, Wedbush increased their target price on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $748.15.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total value of $334,319.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total value of $334,319.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 4,644 shares of Netflix stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $3,250,800.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,163,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 242,112 shares of company stock valued at $169,954,456 in the last three months. 1.76% of the stock is owned by corporate insiders.

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.