Summitry LLC Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

Summitry LLC decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.7% in the fourth quarter, Holdings Channel reports. The firm owned 48,925 shares of the Internet television network’s stock after selling 328 shares during the period. Netflix comprises about 2.1% of Summitry LLC’s portfolio, making the stock its 18th largest position. Summitry LLC’s holdings in Netflix were worth $43,608,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes 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 raised its stake in Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after acquiring an additional 12 shares during the last quarter. Haven Private LLC purchased a new stake in Netflix during the 4th quarter valued at about $733,000. Sigma Planning Corp increased its holdings in shares of Netflix by 7.4% in the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after purchasing an additional 386 shares during the period. Finally, M&T Bank Corp raised its stake in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after purchasing an additional 1,684 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Up 2.6 %

NASDAQ NFLX opened at $997.28 on Wednesday. The business’s fifty day simple moving average is $965.09 and its 200-day simple moving average is $863.43. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $426.59 billion, a PE ratio of 50.29, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50.

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. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the firm earned $2.11 earnings per share. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 4,939 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $13,338,500. The trade was a 27.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 41,121 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 288,103 shares of company stock worth $279,142,041. Insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on NFLX. Oppenheimer increased their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Argus lifted their target price on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. KeyCorp raised their price target on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Wedbush reiterated an “outperform” rating and issued a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Pivotal Research lifted their price target on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,016.78.

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.