Exchange Traded Concepts LLC Has $13 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Exchange Traded Concepts LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 14.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,583 shares of the Internet television network’s stock after selling 2,436 shares during the period. Exchange Traded Concepts LLC’s holdings in Netflix were worth $12,998,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NFLX. CX Institutional increased its holdings in shares of Netflix by 22.9% during the fourth quarter. CX Institutional now owns 2,596 shares of the Internet television network’s stock worth $2,314,000 after buying an additional 484 shares in the last quarter. Berbice Capital Management LLC bought a new position in Netflix in the fourth quarter valued at about $178,000. LexAurum Advisors LLC boosted its stake in shares of Netflix by 15.7% during the fourth quarter. LexAurum Advisors LLC now owns 442 shares of the Internet television network’s stock valued at $394,000 after purchasing an additional 60 shares in the last quarter. Rappaport Reiches Capital Management LLC increased its stake in shares of Netflix by 1.3% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 3,234 shares of the Internet television network’s stock valued at $2,883,000 after buying an additional 41 shares during the period. Finally, RFG Advisory LLC raised its holdings in Netflix by 23.7% in the 4th quarter. RFG Advisory LLC now owns 3,390 shares of the Internet television network’s stock valued at $3,021,000 after buying an additional 649 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 41,601 shares of Netflix stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at $64,435.10. The trade was a 99.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now directly owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,500 shares of company stock valued at $123,309,210 in the last 90 days. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NFLX. KeyCorp boosted their target price on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and increased their price objective for the company from $940.00 to $1,150.00 in a report on Wednesday. JPMorgan Chase & Co. raised their target price on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $715.00 to $900.00 in a research note on Wednesday. Finally, The Goldman Sachs Group upped their target price on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $1,009.29.

Netflix Trading Down 0.8 %

NASDAQ:NFLX opened at $977.09 on Friday. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $999.00. The firm has a 50-day moving average price of $889.11 and a two-hundred day moving average price of $763.41. The firm has a market cap of $417.66 billion, a price-to-earnings ratio of 49.28, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.11 EPS. On average, equities analysts expect that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.

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.