Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Asset Dedication LLC

Asset Dedication LLC lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 25.4% during the fourth quarter, Holdings Channel reports. The fund owned 7,932 shares of the Internet television network’s stock after selling 2,698 shares during the quarter. Netflix makes up 0.6% of Asset Dedication LLC’s holdings, making the stock its 29th largest holding. Asset Dedication LLC’s holdings in Netflix were worth $7,070,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NFLX. State Street Corp boosted its holdings in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 in the last quarter. Jennison Associates LLC lifted its holdings in Netflix by 4.7% during 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 increased its position in Netflix by 116,620.0% during the third 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 purchasing an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Netflix by 0.5% during 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 acquiring an additional 23,702 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NFLX. TD Cowen lifted their price target on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Jefferies Financial Group boosted their price objective on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Phillip Securities cut shares of Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Price Performance

NASDAQ:NFLX opened at $971.83 on Wednesday. The firm has a market cap of $415.42 billion, a price-to-earnings ratio of 49.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average is $899.64 and its two-hundred day moving average is $772.71. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $999.00.

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, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.11 EPS. Research analysts expect that Netflix, Inc. will post 23.72 EPS for the current year.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Theodore A. Sarandos sold 1,278 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the completion of the sale, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at $1,960,579.80. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,117 shares of company stock worth $123,913,691 in the last three months. Company insiders own 1.76% of the company’s stock.

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.