Sit Investment Associates Inc. Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Sit Investment Associates Inc. cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,865 shares of the Internet television network’s stock after selling 785 shares during the quarter. Sit Investment Associates Inc.’s holdings in Netflix were worth $11,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $1,399,000. Oarsman Capital Inc. raised its holdings in Netflix by 44.8% during the 4th quarter. Oarsman Capital Inc. now owns 388 shares of the Internet television network’s stock valued at $346,000 after buying an additional 120 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Netflix in the 4th quarter worth $110,197,000. Pamalican Asset Management Ltd purchased a new position in shares of Netflix in the fourth quarter valued at about $6,952,000. Finally, Leeward Financial Partners LLC raised its stake in shares of Netflix by 3.3% during the fourth quarter. Leeward Financial Partners LLC now owns 5,112 shares of the Internet television network’s stock valued at $4,556,000 after acquiring an additional 165 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

NASDAQ NFLX opened at $855.86 on Friday. The stock has a market capitalization of $366.10 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The business’s fifty day moving average price is $970.24 and its 200-day moving average price is $874.63. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter last year, the company posted $2.11 EPS. The company’s revenue was up 16.0% compared to the same quarter last year. On average, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ann Mather sold 2,682 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the transaction, the chief executive officer now owns 12,950 shares in the company, valued at approximately $13,338,500. This trade represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 280,676 shares of company stock worth $273,515,672 over the last quarter. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NFLX shares. JPMorgan Chase & Co. raised their target price on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Bank of America lifted their price objective on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Pivotal Research boosted their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, UBS Group set a $1,000.00 target price on Netflix in a report on Monday, March 24th. Ten research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,023.74.

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.