Carret Asset Management LLC Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Carret Asset Management LLC decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,141 shares of the Internet television network’s stock after selling 25 shares during the period. Carret Asset Management LLC’s holdings in Netflix were worth $556,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NFLX. Regent Peak Wealth Advisors LLC raised its position in Netflix by 1.6% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 1,304 shares of the Internet television network’s stock valued at $635,000 after purchasing an additional 21 shares during the period. Centurion Wealth Management LLC raised its position in Netflix by 2.4% in the 4th quarter. Centurion Wealth Management LLC now owns 984 shares of the Internet television network’s stock valued at $479,000 after purchasing an additional 23 shares in the last quarter. Secure Asset Management LLC grew its holdings in Netflix by 2.7% during the 4th quarter. Secure Asset Management LLC now owns 903 shares of the Internet television network’s stock worth $440,000 after acquiring an additional 24 shares in the last quarter. Key Financial Inc increased its holdings in Netflix by 14.4% in the third quarter. Key Financial Inc now owns 199 shares of the Internet television network’s stock valued at $75,000 after buying an additional 25 shares during the last quarter. Finally, Lee Financial Co boosted its holdings in Netflix by 18.2% in the third quarter. Lee Financial Co now owns 162 shares of the Internet television network’s stock valued at $61,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NFLX. Robert W. Baird increased their price target on shares of Netflix from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Citigroup boosted their price target on shares of Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research note on Monday, March 25th. BMO Capital Markets restated an “outperform” rating and issued a $713.00 price objective (up previously from $638.00) on shares of Netflix in a research report on Wednesday, April 17th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. Finally, Sanford C. Bernstein boosted their target price on shares of Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average target price of $630.58.

Netflix Price Performance

NASDAQ:NFLX traded up $3.82 during trading hours on Thursday, reaching $558.94. 1,461,265 shares of the company’s stock were exchanged, compared to its average volume of 4,488,673. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $240.85 billion, a P/E ratio of 38.54, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. Netflix, Inc. has a 12 month low of $315.62 and a 12 month high of $639.00. The business’s 50-day simple moving average is $605.56 and its two-hundred day simple moving average is $517.91.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. Netflix’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.88 earnings per share. Sell-side analysts expect that Netflix, Inc. will post 18.09 EPS for the current fiscal year.

Insider Activity

In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the sale, the chief executive officer now owns 1,278 shares in the company, valued at $717,379.74. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. Insiders have sold 160,106 shares of company stock worth $92,729,716 in the last 90 days. Company insiders own 2.45% 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.