Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Summit Global Investments

Summit Global Investments trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 4.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 954 shares of the Internet television network’s stock after selling 45 shares during the period. Summit Global Investments’ holdings in Netflix were worth $851,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of 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 acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC increased its stake 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 during the last quarter. Wellington Management Group LLP raised its holdings 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 worth $3,473,571,000 after purchasing an additional 23,702 shares during the period. Fisher Asset Management LLC lifted its position in shares of Netflix by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock worth $4,035,404,000 after buying an additional 45,507 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Netflix by 0.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,807,228 shares of the Internet television network’s stock valued at $1,991,083,000 after buying an additional 25,060 shares during the period. 80.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NFLX shares. Robert W. Baird increased their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price target on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Macquarie boosted their price objective on Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,016.78.

Netflix Price Performance

NASDAQ NFLX opened at $960.29 on Monday. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The business’s fifty day moving average is $959.08 and its two-hundred day moving average is $859.06. The stock has a market capitalization of $410.77 billion, a P/E ratio of 48.43, a P/E/G ratio of 2.12 and a beta of 1.38. 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 earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating 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%. Netflix’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.11 earnings per share. On average, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $12,700,583. This represents a 88.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 685 shares of Netflix stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,009.57, for a total transaction of $691,555.45. Following the transaction, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,726,322.87. The trade was a 15.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is currently owned by corporate insiders.

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.