Netflix, Inc. (NASDAQ:NFLX) Holdings Cut by Rockbridge Investment Management LCC

Rockbridge Investment Management LCC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 295 shares of the Internet television network’s stock after selling 18 shares during the period. Rockbridge Investment Management LCC’s holdings in Netflix were worth $263,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB lifted its stake in Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after acquiring an additional 156,958 shares during the last quarter. First National Trust Co boosted its holdings in Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after purchasing an additional 12 shares in the last quarter. Haven Private LLC acquired a new position in Netflix during the fourth quarter worth $733,000. Sigma Planning Corp raised its holdings in Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after buying an additional 386 shares in the last quarter. Finally, M&T Bank Corp lifted its position 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 buying an additional 1,684 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of analyst reports. Moffett Nathanson raised Netflix from a “neutral” rating to a “buy” rating and increased their price objective for the company from $850.00 to $1,100.00 in a report on Monday, March 17th. Guggenheim boosted their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Citigroup lifted their target price on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Netflix in a research report on Monday, March 10th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,016.78.

Netflix Stock Down 2.7 %

NASDAQ:NFLX opened at $970.65 on Thursday. The stock’s fifty day simple moving average is $967.54 and its 200-day simple moving average is $864.18. The firm has a market capitalization of $415.20 billion, a P/E ratio of 48.95, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.11 EPS. Equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 288,583 shares of company stock valued at $279,611,567. Corporate insiders own 1.76% of the company’s stock.

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.