Guinness Asset Management LTD Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Guinness Asset Management LTD reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 15.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 48,572 shares of the Internet television network’s stock after selling 8,907 shares during the period. Netflix accounts for approximately 0.8% of Guinness Asset Management LTD’s portfolio, making the stock its 26th largest holding. Guinness Asset Management LTD’s holdings in Netflix were worth $43,298,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after acquiring an additional 642,920 shares during the period. State Street Corp grew its stake 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 valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Jennison Associates LLC increased its holdings in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Netflix in the 3rd quarter worth approximately $222,871,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NFLX. TD Cowen lifted their price objective on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Bank of America lifted their price target on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Canaccord Genuity Group upped their price objective on shares of Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. dropped their target price on shares of Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Finally, The Goldman Sachs Group increased their price target on shares of Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $845.06.

Netflix Trading Up 1.9 %

NFLX opened at $858.10 on Monday. Netflix, Inc. has a one year low of $476.06 and a one year high of $941.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day simple moving average of $884.58 and a two-hundred day simple moving average of $759.04. The firm has a market capitalization of $366.80 billion, a price-to-earnings ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Transactions at Netflix

In related news, 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 sale, the director now directly owns 246 shares in the company, valued at $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 41,601 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at approximately $64,435.10. This trade represents a 99.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,198 shares of company stock valued at $127,616,898. 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.