Highland Capital Management LLC Sells 338 Shares of Netflix, Inc. (NASDAQ:NFLX)

Highland Capital Management LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,096 shares of the Internet television network’s stock after selling 338 shares during the period. Highland Capital Management LLC’s holdings in Netflix were worth $6,325,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hanson & Doremus Investment Management grew its position in Netflix by 17.0% in the fourth quarter. Hanson & Doremus Investment Management now owns 200 shares of the Internet television network’s stock valued at $178,000 after acquiring an additional 29 shares during the last quarter. Foster & Motley Inc. bought a new position in Netflix in the fourth quarter valued at about $226,000. Invesco LLC grew its position in Netflix by 3.6% in the fourth quarter. Invesco LLC now owns 1,453 shares of the Internet television network’s stock valued at $1,295,000 after acquiring an additional 50 shares during the last quarter. Swedbank AB grew its position in Netflix by 0.3% in the fourth quarter. Swedbank AB now owns 466,765 shares of the Internet television network’s stock valued at $416,037,000 after acquiring an additional 1,557 shares during the last quarter. Finally, Orrstown Financial Services Inc. grew its position in Netflix by 2.8% in the fourth quarter. Orrstown Financial Services Inc. now owns 1,032 shares of the Internet television network’s stock valued at $920,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In other Netflix 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 value of $604,481.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,117 shares of company stock valued at $123,913,691. Corporate insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on NFLX shares. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Jefferies Financial Group boosted their price target on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. UBS Group boosted their price target on Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, KeyCorp lifted their price objective on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Ten equities research 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 a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Up 0.7 %

Shares of NASDAQ NFLX opened at $978.94 on Thursday. Netflix, Inc. has a one year low of $542.01 and a one 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 business’s fifty day moving average price is $899.64 and its 200-day moving average price is $772.71. The stock has a market capitalization of $418.46 billion, a PE ratio of 49.37, a P/E/G ratio of 1.53 and a beta of 1.27.

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