Beese Fulmer Investment Management Inc. Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Beese Fulmer Investment Management Inc. reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,123 shares of the Internet television network’s stock after selling 16 shares during the quarter. Netflix makes up 1.5% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 19th largest position. Beese Fulmer Investment Management Inc.’s holdings in Netflix were worth $17,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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 worth $1,829,494,000 after acquiring an additional 29,726 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after acquiring an additional 11,921 shares in the last quarter. M&T Bank Corp raised its position in shares of Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in Netflix in the 3rd quarter worth approximately $1,517,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NFLX opened at $1,015.68 on Friday. The firm has a market capitalization of $434.47 billion, a PE ratio of 51.22, a PEG ratio of 2.02 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,016.35. The firm’s 50-day moving average price is $912.05 and its 200 day moving average price is $786.03.

Netflix (NASDAQ:NFLX) last issued its earnings results 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the company earned $2.11 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

NFLX has been the subject of a number of research analyst reports. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. KeyCorp lifted their price target on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Macquarie increased their price objective on Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price for the company in a report on Thursday, January 23rd. Finally, Jefferies Financial Group raised their price target on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Insider Transactions at Netflix

In related news, Director Ann Mather sold 2,682 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy M. Haley sold 647 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The disclosure for this sale can be found here. Insiders sold 292,270 shares of company stock worth $278,469,388 in the last 90 days. Insiders own 1.76% of the company’s stock.

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.