Greatmark Investment Partners Inc. Has $23.62 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Greatmark Investment Partners Inc. lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 13.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,504 shares of the Internet television network’s stock after selling 4,137 shares during the quarter. Netflix comprises about 3.2% of Greatmark Investment Partners Inc.’s investment portfolio, making the stock its 8th largest holding. Greatmark Investment Partners Inc.’s holdings in Netflix were worth $23,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. West Michigan Advisors LLC increased its stake in shares of Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after purchasing an additional 10 shares during the period. Warwick Investment Management Inc. increased its stake in shares of Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after purchasing an additional 10 shares during the period. Enzi Wealth increased its stake in shares of Netflix by 3.4% during the fourth quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock worth $316,000 after purchasing an additional 11 shares during the period. TCI Wealth Advisors Inc. increased its stake in shares of Netflix by 1.6% during the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock worth $624,000 after purchasing an additional 11 shares during the period. Finally, Everett Harris & Co. CA increased its stake in shares of Netflix by 1.3% during the fourth quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock worth $775,000 after purchasing an additional 11 shares during the period. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the subject of several analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $715.00 to $900.00 in a report on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and issued a $1,150.00 price objective (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. UBS Group reaffirmed a “buy” rating on shares of Netflix in a report on Monday. Finally, Morgan Stanley lifted their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,014.26.

Netflix Trading Up 3.1 %

NASDAQ NFLX opened at $918.00 on Friday. The business’s 50-day moving average price is $951.04 and its two-hundred day moving average price is $847.68. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The firm has a market capitalization of $392.68 billion, a PE ratio of 46.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the company posted $2.11 EPS. The business’s revenue was up 16.0% on a year-over-year basis. On average, analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, Director Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 30,485 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $981.92, for a total value of $29,933,831.20. Following the completion of the transaction, the chairman now directly owns 394 shares in the company, valued at $386,876.48. This represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,103 shares of company stock worth $279,142,041. Insiders own 1.76% of the company’s stock.

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.