Ingalls & Snyder LLC Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Ingalls & Snyder LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,578 shares of the Internet television network’s stock after selling 232 shares during the period. Ingalls & Snyder LLC’s holdings in Netflix were worth $2,298,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp grew 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 buying an additional 426,740 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 in the last quarter. Jennison Associates LLC grew its holdings in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,809 shares of company stock worth $290,374,484 in the last three months. 1.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent research reports. Phillip Securities lowered shares of Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and raised their target price for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. StockNews.com lowered shares of Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Oppenheimer raised their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $1,150.00 price objective (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,027.31 on Thursday. The business’s 50 day moving average price is $922.08 and its 200 day moving average price is $797.72. The firm has a market cap of $439.44 billion, a P/E ratio of 51.81, a P/E/G ratio of 2.11 and a beta of 1.27. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,032.85. 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 (NASDAQ:NFLX) last announced its 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. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.11 EPS. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix Company 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.