Harrington Investments INC trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,653 shares of the Internet television network’s stock after selling 288 shares during the quarter. Netflix accounts for 2.0% of Harrington Investments INC’s holdings, making the stock its 15th largest holding. Harrington Investments INC’s holdings in Netflix were worth $3,057,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Global Retirement Partners LLC grew its stake in shares of Netflix by 99.4% during the fourth quarter. Global Retirement Partners LLC now owns 1,432 shares of the Internet television network’s stock worth $774,000 after buying an additional 714 shares during the last quarter. Sowell Financial Services LLC lifted its stake in shares of Netflix by 39.9% in the 4th quarter. Sowell Financial Services LLC now owns 9,148 shares of the Internet television network’s stock valued at $4,947,000 after acquiring an additional 2,609 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Netflix by 4.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,051 shares of the Internet television network’s stock valued at $568,000 after acquiring an additional 41 shares in the last quarter. KMG Fiduciary Partners LLC grew its position in Netflix by 10.8% during the 4th quarter. KMG Fiduciary Partners LLC now owns 4,018 shares of the Internet television network’s stock worth $2,093,000 after acquiring an additional 392 shares during the last quarter. Finally, Foundations Investment Advisors LLC acquired a new position in Netflix in the 4th quarter worth about $1,374,000. Institutional investors and hedge funds own 76.10% of the company’s stock.
NFLX has been the topic of several research reports. JPMorgan Chase & Co. restated a “buy” rating and set a $628.00 price target (up from $615.00) on shares of Netflix in a report on Monday, November 23rd. BidaskClub lowered shares of Netflix from a “buy” rating to a “hold” rating in a report on Monday, December 28th. BMO Capital Markets increased their price objective on Netflix from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Wednesday, October 21st. Cowen raised their target price on Netflix from $625.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, January 7th. Finally, The Goldman Sachs Group set a $670.00 price target on Netflix and gave the company a “buy” rating in a research report on Wednesday, October 21st. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Netflix currently has a consensus rating of “Hold” and an average price target of $536.14.
In other news, CEO Reed Hastings sold 437,311 shares of Netflix stock in a transaction dated Monday, December 21st. The shares were sold at an average price of $527.26, for a total value of $230,576,597.86. Following the completion of the transaction, the chief executive officer now owns 41,097 shares in the company, valued at $21,668,804.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rodolphe Belmer sold 2,136 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $488.52, for a total transaction of $1,043,478.72. Following the completion of the sale, the director now directly owns 215 shares in the company, valued at approximately $105,031.80. The disclosure for this sale can be found here. Insiders have sold a total of 638,247 shares of company stock valued at $335,292,138 in the last quarter. 3.40% of the stock is owned by corporate insiders.
Shares of Netflix stock traded up $13.54 on Wednesday, reaching $507.79. 5,006,163 shares of the company traded hands, compared to its average volume of 4,299,245. The company has a 50 day moving average of $512.01 and a 200 day moving average of $501.15. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.24 and a quick ratio of 1.24. Netflix, Inc. has a 52 week low of $290.25 and a 52 week high of $575.37. The firm has a market capitalization of $224.34 billion, a PE ratio of 81.89, a PEG ratio of 2.68 and a beta of 0.93.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $1.74 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.39). Netflix had a net margin of 11.78% and a return on equity of 31.48%. The firm had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter in the previous year, the company posted $1.47 EPS. Netflix’s revenue for the quarter was up 22.7% on a year-over-year basis. As a group, analysts anticipate that Netflix, Inc. will post 6.26 earnings per share for the current year.
Netflix Company Profile
Netflix, Inc provides subscription streaming entertainment service. 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.
Further Reading: Margin
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