Stonegate Investment Group LLC Trims Position in Netflix, Inc. (NASDAQ:NFLX)

Stonegate Investment Group LLC trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 7.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,121 shares of the Internet television network’s stock after selling 84 shares during the period. Stonegate Investment Group LLC’s holdings in Netflix were worth $999,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in NFLX. International Assets Investment Management LLC raised its stake in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. increased its holdings in Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares in the last quarter. State Street Corp boosted its position in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the period. Jennison Associates LLC increased its stake in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Netflix during the 3rd quarter valued at $222,871,000. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on NFLX. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Pivotal Research increased their target price on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Loop Capital lifted their target price on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Wedbush restated an “outperform” rating and issued a $1,150.00 price target (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Bank of America lifted their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Activity

In other news, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,117 shares of company stock valued at $123,913,691 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

Netflix Trading Down 0.0 %

NASDAQ NFLX opened at $971.83 on Wednesday. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $999.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13. The company has a market capitalization of $415.42 billion, a PE ratio of 49.01, a P/E/G ratio of 1.53 and a beta of 1.27. The company has a fifty day moving average of $897.63 and a 200 day moving average of $770.43.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 earnings per share. Research analysts forecast that Netflix, Inc. will post 23.72 earnings per share for the current year.

About Netflix

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.