Patten & Patten Inc. TN Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Patten & Patten Inc. TN lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,017 shares of the Internet television network’s stock after buying an additional 85 shares during the period. Patten & Patten Inc. TN’s holdings in Netflix were worth $1,797,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB lifted its stake in shares of Netflix by 22.7% during the fourth 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 period. First National Trust Co lifted its stake in shares of Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after buying an additional 12 shares during the period. Haven Private LLC acquired a new stake in shares of Netflix during the fourth quarter worth $733,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Netflix by 1.2% during 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 buying an additional 29,726 shares during the period. Finally, Sigma Planning Corp lifted its stake in shares of Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after buying an additional 386 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 30,485 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $386,876.48. This trade represents a 98.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 288,103 shares of company stock valued at $279,142,041. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NFLX shares. Citigroup boosted their target price on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 target price (up from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, UBS Group restated a “buy” rating on shares of Netflix in a research report on Monday, March 10th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,014.26.

Netflix Stock Performance

Shares of NFLX stock opened at $918.00 on Monday. The firm’s 50 day moving average price is $951.04 and its 200-day moving average price is $849.90. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The firm has a market cap of $392.68 billion, a P/E ratio of 46.29, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last released 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. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.11 EPS. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix Company 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.