Lord Abbett & CO. LLC Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Lord Abbett & CO. LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 288,416 shares of the Internet television network’s stock after selling 2,843 shares during the period. Netflix comprises about 0.8% of Lord Abbett & CO. LLC’s holdings, making the stock its 25th largest holding. Lord Abbett & CO. LLC owned about 0.07% of Netflix worth $257,071,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. West Michigan Advisors LLC boosted its position in Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock valued at $692,000 after buying an additional 10 shares during the period. Warwick Investment Management Inc. raised its stake in shares of Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock valued at $266,000 after acquiring an additional 10 shares in the last quarter. MRP Capital Investments LLC boosted its holdings in Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after purchasing an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC grew its stake in Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after purchasing an additional 10 shares in the last quarter. Finally, Enzi Wealth increased its holdings in Netflix by 3.4% during the 4th 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. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 4.5 %

NFLX opened at $1,096.87 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $469.19 billion, a price-to-earnings ratio of 55.31, a PEG ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a one year low of $544.25 and a one year high of $1,101.00. The business’s fifty day moving average is $954.61 and its two-hundred day moving average is $901.03.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the previous year, the firm earned $8.28 EPS. Analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NFLX. Wolfe Research upgraded Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a research note on Thursday, January 23rd. Loop Capital reiterated a “hold” rating on shares of Netflix in a report on Monday, March 24th. Canaccord Genuity Group raised their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday. Guggenheim reiterated a “buy” rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Finally, FBN Securities initiated coverage on Netflix in a report on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 target price on the stock. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,072.12.

Insider Buying and Selling at Netflix

In other news, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. This represents a 56.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 273,855 shares of company stock valued at $267,474,816 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Netflix 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.