Montag & Caldwell LLC Sells 27,783 Shares of Netflix, Inc. (NASDAQ:NFLX)

Montag & Caldwell LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 35.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,655 shares of the Internet television network’s stock after selling 27,783 shares during the period. Netflix comprises about 4.2% of Montag & Caldwell LLC’s portfolio, making the stock its 4th largest holding. Montag & Caldwell LLC’s holdings in Netflix were worth $24,176,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jennison Associates LLC increased its position in shares of Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares in the last quarter. Northern Trust Corp raised its stake in Netflix by 2.1% during the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after purchasing an additional 96,938 shares during the period. Clearbridge Investments LLC increased its position in Netflix by 5.3% during the 3rd quarter. Clearbridge Investments LLC now owns 2,783,694 shares of the Internet television network’s stock worth $1,051,123,000 after purchasing an additional 139,165 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Netflix by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,393,628 shares of the Internet television network’s stock worth $903,834,000 after acquiring an additional 14,364 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after acquiring an additional 2,061,859 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NFLX. Robert W. Baird upped their price target on Netflix from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Bank of America upped their target price on shares of Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Citigroup raised their price objective on shares of Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research report on Monday, March 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Finally, StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $630.58.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,181,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now directly owns 28 shares of the company’s stock, valued at $17,091.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,573 shares of company stock valued at $89,548,241. 1.76% of the stock is owned by corporate insiders.

Netflix Trading Down 0.7 %

Shares of NASDAQ:NFLX traded down $3.93 during midday trading on Monday, reaching $557.30. 947,658 shares of the company’s stock were exchanged, compared to its average volume of 4,472,628. The stock has a market cap of $240.14 billion, a price-to-earnings ratio of 38.58, a P/E/G ratio of 1.37 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. Netflix, Inc. has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The firm’s 50 day simple moving average is $604.54 and its two-hundred day simple moving average is $521.57.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the previous year, the business posted $2.88 EPS. The firm’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts forecast that Netflix, Inc. will post 18.13 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.