Cumberland Partners Ltd Sells 1,923 Shares of Netflix, Inc. (NASDAQ:NFLX)

Cumberland Partners Ltd lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 33.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,857 shares of the Internet television network’s stock after selling 1,923 shares during the period. Cumberland Partners Ltd’s holdings in Netflix were worth $3,438,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in shares of Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after acquiring an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Netflix by 1.2% in the third 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 in the last quarter. Natixis Advisors LLC raised its position in Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after purchasing an additional 11,921 shares during the last quarter. M&T Bank Corp lifted its holdings in 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 buying an additional 1,684 shares in the last quarter. Finally, Quilter Plc boosted its position in Netflix by 8.2% in the 4th quarter. Quilter Plc now owns 143,757 shares of the Internet television network’s stock valued at $128,133,000 after buying an additional 10,946 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on NFLX. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and boosted their target price for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Needham & Company LLC boosted their price objective on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Guggenheim raised their target price on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a research note on Thursday, January 23rd. Finally, Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory K. Peters sold 4,939 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,338,500. This trade represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 303,220 shares of company stock valued at $289,856,164. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Up 0.7 %

NASDAQ:NFLX opened at $1,043.33 on Thursday. The stock has a 50-day simple moving average of $936.88 and a 200 day simple moving average of $814.17. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The company has a market cap of $446.29 billion, a PE ratio of 52.61, a PEG ratio of 2.19 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period last year, the business earned $2.11 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.