Cumberland Partners Ltd Has $3.44 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Cumberland Partners Ltd decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 33.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,857 shares of the Internet television network’s stock after selling 1,923 shares during the quarter. Cumberland Partners Ltd’s holdings in Netflix were worth $3,438,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its holdings in 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 purchasing an additional 426,740 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Netflix by 1.4% in 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 lifted its stake in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Netflix by 0.5% during 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 buying an additional 23,702 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard N. Barton sold 6,364 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is currently owned by company insiders.

Netflix Trading Up 0.7 %

NASDAQ NFLX opened at $1,043.33 on Thursday. The company has a market cap of $446.29 billion, a price-to-earnings ratio of 52.61, a price-to-earnings-growth ratio of 2.19 and a beta of 1.27. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average is $936.88 and its 200 day moving average is $814.17.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the firm posted $2.11 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on NFLX shares. Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and increased their price target for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Morgan Stanley lifted their price target on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and boosted their price target for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Guggenheim increased their price objective on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Evercore ISI boosted their target price on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

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.