Sandy Spring Bank Has $886,000 Holdings in Netflix, Inc. (NASDAQ:NFLX)

Sandy Spring Bank cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 995 shares of the Internet television network’s stock after selling 12 shares during the quarter. Sandy Spring Bank’s holdings in Netflix were worth $886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. West Michigan Advisors LLC grew its holdings in shares of Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after buying an additional 10 shares in the last quarter. Warwick Investment Management Inc. grew its holdings in shares of Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after buying an additional 10 shares in the last quarter. Enzi Wealth grew its stake in Netflix by 3.4% in the fourth quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock valued at $316,000 after purchasing an additional 11 shares in the last quarter. TCI Wealth Advisors Inc. grew its stake in Netflix by 1.6% in the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock valued at $624,000 after purchasing an additional 11 shares in the last quarter. Finally, Everett Harris & Co. CA grew its stake in Netflix by 1.3% in the fourth quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock valued at $775,000 after purchasing an additional 11 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NFLX shares. Robert W. Baird raised their price target on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Morgan Stanley raised their price target on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Loop Capital raised their price target on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and raised their price target for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Finally, Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,016.78.

Insider Activity

In other news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the transaction, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,103 shares of company stock worth $279,142,041. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $960.29 on Friday. The stock’s fifty day moving average price is $959.08 and its two-hundred day moving average price is $856.54. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $410.77 billion, a PE ratio of 48.43, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the company posted $2.11 EPS. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, research 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.