Pointe Capital Management LLC Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Pointe Capital Management LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,112 shares of the Internet television network’s stock after selling 21 shares during the quarter. Pointe Capital Management LLC’s holdings in Netflix were worth $991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NFLX. State Street Corp raised its position in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Netflix by 112,896.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after acquiring an additional 381,590 shares in the last quarter. Jennison Associates LLC lifted its stake in 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 acquiring an additional 316,594 shares during the period. Westfield Capital Management Co. LP bought a new position in Netflix during the 3rd quarter worth about $222,871,000. Finally, AustralianSuper Pty Ltd increased its position in Netflix by 12,243.4% during the 3rd quarter. AustralianSuper Pty Ltd now owns 290,071 shares of the Internet television network’s stock valued at $205,739,000 after purchasing an additional 287,721 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 1.1 %

NFLX opened at $977.24 on Wednesday. The firm has a market capitalization of $418.02 billion, a price-to-earnings ratio of 49.28, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The company’s 50 day simple moving average is $943.06 and its two-hundred day simple moving average is $826.31. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share 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 company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the company posted $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. Analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 102,228 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. This trade represents a 88.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,220 shares of company stock worth $289,856,164. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Macquarie upped their price target on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft upped their price target on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Arete Research upgraded shares of Netflix to a “hold” rating in a report on Thursday, January 23rd. Loop Capital upped their target price on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Finally, Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

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.