Cullinan Associates Inc. Trims Position in Netflix, Inc. (NASDAQ:NFLX)

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Cullinan Associates Inc. lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 900 shares of the Internet television network’s stock after selling 100 shares during the quarter. Cullinan Associates Inc.’s holdings in Netflix were worth $291,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Maverick Capital Ltd. grew its holdings in Netflix by 695.9% during the third quarter. Maverick Capital Ltd. now owns 522,778 shares of the Internet television network’s stock valued at $139,906,000 after purchasing an additional 457,098 shares during the period. Sunbelt Securities Inc. grew its holdings in Netflix by 106.0% during the third quarter. Sunbelt Securities Inc. now owns 6,356 shares of the Internet television network’s stock valued at $1,701,000 after purchasing an additional 3,271 shares during the period. RMB Capital Management LLC grew its holdings in Netflix by 9.2% during the second quarter. RMB Capital Management LLC now owns 1,073 shares of the Internet television network’s stock valued at $394,000 after purchasing an additional 90 shares during the period. Bath Savings Trust Co bought a new stake in Netflix during the fourth quarter valued at about $211,000. Finally, GVO Asset Management Ltd bought a new stake in Netflix during the third quarter valued at about $2,409,000. Institutional investors own 80.80% of the company’s stock.

NASDAQ:NFLX opened at $339.07 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $148.29 billion, a P/E ratio of 126.52, a P/E/G ratio of 2.07 and a beta of 1.28. Netflix, Inc. has a 12 month low of $252.28 and a 12 month high of $385.99. The business’s 50-day moving average is $320.71 and its 200 day moving average is $308.14.

Netflix (NASDAQ:NFLX) last posted its earnings results on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.42. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.25 billion. Netflix had a return on equity of 23.65% and a net margin of 7.49%. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. On average, research analysts forecast that Netflix, Inc. will post 3.33 earnings per share for the current year.

NFLX has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $400.00 price target on shares of Netflix in a report on Tuesday. Piper Jaffray Companies reissued a “buy” rating and set a $400.00 price target on shares of Netflix in a report on Wednesday, December 11th. Pivotal Research boosted their price target on Netflix from $400.00 to $425.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Robert W. Baird cut their price target on Netflix from $370.00 to $300.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Finally, Monness Crespi & Hardt cut their price target on Netflix from $440.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $373.29.

In related news, CEO Reed Hastings sold 54,516 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $312.04, for a total value of $17,011,172.64. Following the sale, the chief executive officer now directly owns 54,516 shares in the company, valued at $17,011,172.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.29% of the stock is currently owned by insiders.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. 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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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