CIBC Private Wealth Group LLC Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

CIBC Private Wealth Group LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,685 shares of the Internet television network’s stock after selling 5,146 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Netflix were worth $160,724,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NFLX. Pathway Financial Advisers LLC raised its holdings in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares during the period. Newton One Investments LLC acquired a new stake in Netflix in the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC raised its stake in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Netflix during the third quarter worth $38,000. Finally, Princeton Global Asset Management LLC boosted its stake in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Down 4.4 %

Shares of NASDAQ NFLX opened at $933.85 on Friday. 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. The company has a market cap of $399.46 billion, a price-to-earnings ratio of 47.09, a P/E/G ratio of 2.12 and a beta of 1.38. The business has a fifty day simple moving average of $971.74 and a 200-day simple moving average of $868.10.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 22.34% and a return on equity of 38.32%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.11 earnings per share. Sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Robert W. Baird increased their price target on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Arete Research upgraded Netflix to a “hold” rating in a report on Thursday, January 23rd. Morgan Stanley increased their target price on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.02.

Insider Buying and Selling

In other news, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,338,500. The trade was a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,583 shares of company stock valued at $279,611,567. Company 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.