Pinebridge Investments L.P. Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Pinebridge Investments L.P. trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,011 shares of the Internet television network’s stock after selling 12,500 shares during the period. Netflix accounts for about 0.6% of Pinebridge Investments L.P.’s holdings, making the stock its 27th largest holding. Pinebridge Investments L.P.’s holdings in Netflix were worth $78,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC boosted its holdings in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Netflix in the 4th quarter valued at $32,000. Newton One Investments LLC purchased a new position in shares of Netflix in the 4th quarter valued at $34,000. Pineridge Advisors LLC raised its stake in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC lifted its position in 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 acquiring an additional 16 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Netflix news, Director Jay C. Hoag sold 617 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares in the company, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 274,472 shares of company stock valued at $268,079,297. Insiders own 1.76% of the company’s stock.

Netflix Trading Up 5.3 %

Shares of Netflix stock opened at $1,040.34 on Wednesday. The firm has a market cap of $445.01 billion, a PE ratio of 52.46, a P/E/G ratio of 2.12 and a beta of 1.55. 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 fifty-two week low of $544.25 and a fifty-two week high of $1,064.97. The business’s fifty day moving average is $954.01 and its two-hundred day moving average is $897.26.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the business earned $8.28 EPS. Analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on NFLX. Deutsche Bank Aktiengesellschaft lifted their target price on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Bank of America increased their price objective on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Evercore ISI lifted their price objective on shares of Netflix from $1,100.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Monday. Finally, StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,070.65.

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.