Tortoise Investment Management LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 49.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 101 shares of the Internet television network’s stock after selling 100 shares during the quarter. Tortoise Investment Management LLC’s holdings in Netflix were worth $33,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Winthrop Partners WNY LLC lifted its position in shares of Netflix by 64.9% during the third quarter. Winthrop Partners WNY LLC now owns 94 shares of the Internet television network’s stock valued at $25,000 after buying an additional 37 shares during the last quarter. 1 North Wealth Services LLC purchased a new stake in shares of Netflix during the third quarter valued at about $25,000. Fulcrum Equity Management purchased a new stake in shares of Netflix during the third quarter valued at about $27,000. Duncker Streett & Co. Inc. purchased a new stake in shares of Netflix during the fourth quarter valued at about $34,000. Finally, Wealthcare Capital Management LLC purchased a new stake in shares of Netflix during the third quarter valued at about $40,000. 80.69% of the stock is owned by institutional investors.
Several analysts have commented on NFLX shares. Monness Crespi & Hardt increased their price target on shares of Netflix from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. William Blair reissued a “buy” rating on shares of Netflix in a research report on Thursday, January 23rd. Wedbush cut their price objective on shares of Netflix from $188.00 to $173.00 and set an “underperform” rating on the stock in a report on Wednesday, January 22nd. Goldman Sachs Group set a $430.00 price objective on shares of Netflix and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, UBS Group set a $400.00 price objective on shares of Netflix and gave the company a “buy” rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Netflix presently has an average rating of “Buy” and an average price target of $380.00.
In other news, CEO Reed Hastings sold 83,692 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $336.61, for a total transaction of $28,171,564.12. Following the sale, the chief executive officer now owns 83,692 shares of the company’s stock, valued at approximately $28,171,564.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 1,894 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $371.75, for a total transaction of $704,094.50. The disclosure for this sale can be found here. Insiders have sold a total of 140,102 shares of company stock worth $45,886,831 in the last ninety days. Corporate insiders own 3.72% of the company’s stock.
NASDAQ:NFLX traded down $1.17 during midday trading on Friday, hitting $380.23. The company’s stock had a trading volume of 2,878,876 shares, compared to its average volume of 7,251,396. Netflix, Inc. has a fifty-two week low of $252.28 and a fifty-two week high of $385.99. The firm’s 50 day moving average is $343.06 and its 200-day moving average is $307.43. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $166.70 billion, a P/E ratio of 92.07, a P/E/G ratio of 2.05 and a beta of 1.46.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.78. Netflix had a net margin of 9.26% and a return on equity of 28.45%. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the prior year, the company earned $0.30 EPS. Netflix’s quarterly revenue was up 30.6% on a year-over-year basis. As a group, analysts forecast that Netflix, Inc. will post 6.04 EPS for the current year.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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