Weatherly Asset Management L. P. Cuts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Weatherly Asset Management L. P. trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,547 shares of the Internet television network’s stock after selling 1,419 shares during the period. Netflix accounts for about 2.7% of Weatherly Asset Management L. P.’s investment portfolio, making the stock its 7th largest position. Weatherly Asset Management L. P.’s holdings in Netflix were worth $24,610,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in shares of Netflix during the 4th quarter worth approximately $1,340,000. Harbor Advisors LLC acquired a new position in Netflix in the fourth quarter worth $243,000. Ellenbecker Investment Group acquired a new position in Netflix in the fourth quarter worth $232,000. Linden Thomas Advisory Services LLC boosted its stake in Netflix by 3.3% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,432 shares of the Internet television network’s stock worth $3,618,000 after purchasing an additional 238 shares in the last quarter. Finally, Community Bank & Trust Waco Texas acquired a new position in Netflix in the fourth quarter worth $487,000. 80.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Netflix

In related news, Director Jay C. Hoag sold 47,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the sale, the director now owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Jay C. Hoag sold 47,000 shares of Netflix stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total value of $25,873,500.00. Following the completion of the transaction, the director now directly owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Theodore A. Sarandos sold 68,957 shares of Netflix stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the transaction, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NFLX shares. Canaccord Genuity Group restated a “hold” rating and set a $585.00 target price (down previously from $720.00) on shares of Netflix in a research report on Friday. BMO Capital Markets restated an “outperform” rating and issued a $713.00 price target (up from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Rosenblatt Securities lowered their price target on Netflix from $554.00 to $540.00 and set a “neutral” rating for the company in a report on Friday. Oppenheimer restated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a report on Friday. Finally, Macquarie increased their price target on Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $630.58.

Netflix Price Performance

Shares of NFLX stock traded up $23.15 during trading hours on Tuesday, reaching $577.75. The company’s stock had a trading volume of 4,942,177 shares, compared to its average volume of 4,517,395. The firm’s 50 day simple moving average is $605.58 and its 200-day simple moving average is $516.27. The company has a market capitalization of $248.95 billion, a price-to-earnings ratio of 39.42, a PEG ratio of 1.49 and a beta of 1.22. Netflix, Inc. has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.88 EPS. Sell-side analysts forecast that Netflix, Inc. will post 17.13 earnings per share 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.