Moors & Cabot Inc. Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Moors & Cabot Inc. reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,502 shares of the Internet television network’s stock after selling 12 shares during the quarter. Moors & Cabot Inc.’s holdings in Netflix were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC lifted its position in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC boosted its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Wellington Management Group LLP grew its position in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Netflix by 1.0% during the 4th quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock valued at $4,035,404,000 after buying an additional 45,507 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ann Mather sold 2,682 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and raised their price target for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and raised their target price for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Oppenheimer upped their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Loop Capital raised their price objective on shares of Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $1,175.00 target price (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,014.26.

Netflix Stock Performance

NASDAQ:NFLX opened at $890.17 on Friday. The company has a market cap of $380.78 billion, a price-to-earnings ratio of 44.89, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The stock’s 50 day simple moving average is $950.30 and its two-hundred day simple moving average is $846.09. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced 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 company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the previous year, the business posted $2.11 earnings per share. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.