Netflix, Inc. (NASDAQ:NFLX) Shares Sold by LM Advisors LLC

LM Advisors LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 57.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 550 shares of the Internet television network’s stock after selling 750 shares during the period. LM Advisors LLC’s holdings in Netflix were worth $490,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Netflix by 13.3% during the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after acquiring an additional 198,148 shares during the last quarter. Algert Global LLC purchased a new stake in Netflix during the 3rd quarter worth approximately $2,475,000. Qsemble Capital Management LP purchased a new stake in Netflix during the 3rd quarter worth approximately $209,000. D.A. Davidson & CO. raised its position in shares of Netflix by 0.4% in the 3rd quarter. D.A. Davidson & CO. now owns 17,788 shares of the Internet television network’s stock valued at $12,616,000 after purchasing an additional 72 shares in the last quarter. Finally, Cynosure Group LLC boosted its stake in shares of Netflix by 98.5% during the 3rd quarter. Cynosure Group LLC now owns 1,211 shares of the Internet television network’s stock valued at $859,000 after buying an additional 601 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of Netflix 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 completion of the transaction, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,583 shares of company stock valued at $279,611,567 over the last three months. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $970.65 on Thursday. The company has a 50-day moving average of $967.54 and a 200-day moving average of $864.18. The firm has a market cap of $415.20 billion, a price-to-earnings ratio of 48.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued its 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 firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $2.11 earnings per share. Analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on NFLX. Moffett Nathanson raised shares of Netflix from a “neutral” rating to a “buy” rating and upped their price target for the company from $850.00 to $1,100.00 in a report on Monday, March 17th. BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and lifted their price target for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Morgan Stanley upped their price objective 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. Finally, Evercore ISI lifted their target price on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Ten 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,016.78.

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.