Accredited Investors Inc. Cuts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Accredited Investors Inc. decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.2% in the fourth quarter, HoldingsChannel reports. The fund owned 859 shares of the Internet television network’s stock after selling 87 shares during the quarter. Accredited Investors Inc.’s holdings in Netflix were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the period. First National Trust Co increased its position in shares of Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after purchasing an additional 12 shares in the last quarter. Haven Private LLC acquired a new stake in Netflix in the 4th quarter worth approximately $733,000. Sigma Planning Corp increased its holdings in shares of Netflix by 7.4% in the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after purchasing an additional 386 shares during the period. Finally, M&T Bank Corp grew its holdings in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NFLX has been the topic of several analyst reports. Needham & Company LLC lifted their price target on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Moffett Nathanson upgraded shares of Netflix from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $850.00 to $1,100.00 in a research report on Monday, March 17th. Evercore ISI raised their price target on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. KeyCorp lowered their price target on Netflix from $1,100.00 to $1,000.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Argus lifted their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,017.31.

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were 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 can be accessed through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the transaction, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,312 shares of company stock worth $267,919,297 in the last quarter. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $932.40 on Thursday. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The company has a 50 day simple moving average of $962.78 and a two-hundred day simple moving average of $881.51. The company has a market capitalization of $398.84 billion, a price-to-earnings ratio of 47.68, a P/E/G ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share 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 business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the company earned $2.11 earnings per share. The company’s revenue was up 16.0% on a year-over-year basis. Analysts expect that Netflix, Inc. will post 24.58 EPS 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.