Guinness Atkinson Asset Management Inc Has $7.05 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Guinness Atkinson Asset Management Inc decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 27.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,914 shares of the Internet television network’s stock after selling 3,047 shares during the period. Netflix accounts for 3.6% of Guinness Atkinson Asset Management Inc’s holdings, making the stock its 10th biggest position. Guinness Atkinson Asset Management Inc’s holdings in Netflix were worth $7,054,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of NFLX. DigitalBridge Group Inc. increased its position in shares of Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after acquiring an additional 9,451 shares during the last quarter. Nordea Investment Management AB grew its stake in Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Netflix by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after purchasing an additional 29,726 shares during the period. Natixis Advisors LLC increased its position in shares of Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after purchasing an additional 11,921 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after purchasing an additional 1,684 shares during the period. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Jefferies Financial Group increased their target price on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Citigroup lifted their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Oppenheimer reduced their price objective on Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating for the company in a report on Wednesday, January 15th. Finally, Argus boosted their target price on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $845.06.

Insiders Place Their Bets

In other Netflix news, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the sale, the director now directly owns 246 shares of the company’s stock, valued at $185,976. The trade was a 95.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock valued at $127,616,898 over the last 90 days. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $858.10 on Monday. The firm has a 50 day simple moving average of $884.58 and a two-hundred day simple moving average of $759.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $366.80 billion, a PE ratio of 48.56, a P/E/G ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a one year low of $476.06 and a one year high of $941.75.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal 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.