Netflix, Inc. (NASDAQ:NFLX) is Contravisory Investment Management Inc.’s 2nd Largest Position

Contravisory Investment Management Inc. reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,733 shares of the Internet television network’s stock after selling 865 shares during the period. Netflix accounts for approximately 3.0% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Contravisory Investment Management Inc.’s holdings in Netflix were worth $14,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthPLAN Partners LLC boosted its stake in Netflix by 7.6% during the second quarter. WealthPLAN Partners LLC now owns 943 shares of the Internet television network’s stock valued at $636,000 after buying an additional 67 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in Netflix by 55.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 1,556 shares of the Internet television network’s stock worth $1,050,000 after acquiring an additional 553 shares during the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of Netflix by 3.9% during the 2nd quarter. E Fund Management Co. Ltd. now owns 6,378 shares of the Internet television network’s stock worth $4,304,000 after acquiring an additional 239 shares in the last quarter. Meridian Wealth Partners LLC boosted its position in shares of Netflix by 6.9% during the 2nd quarter. Meridian Wealth Partners LLC now owns 356 shares of the Internet television network’s stock valued at $240,000 after acquiring an additional 23 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Netflix by 6.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 81,691 shares of the Internet television network’s stock valued at $55,132,000 after purchasing an additional 4,831 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $848.26 on Thursday. Netflix, Inc. has a 52 week low of $475.26 and a 52 week high of $941.75. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $362.60 billion, a P/E ratio of 48.01, a P/E/G ratio of 1.35 and a beta of 1.27. The business’s 50 day moving average price is $881.04 and its 200 day moving average price is $755.96.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. On average, sell-side analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction 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 approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,742 shares of company stock valued at $131,030,268. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NFLX shares. Citigroup raised their price objective on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Wolfe Research reissued an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Loop Capital lowered Netflix from a “buy” rating to a “hold” rating and boosted their target price for the company from $800.00 to $950.00 in a research report on Monday, December 16th. Guggenheim increased their price target on Netflix from $825.00 to $950.00 and gave the stock a “buy” rating in a report on Monday. Finally, Canaccord Genuity Group boosted their price objective on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus price target of $845.82.

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.