Salomon & Ludwin LLC Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Salomon & Ludwin LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 395 shares of the Internet television network’s stock after selling 56 shares during the period. Salomon & Ludwin LLC’s holdings in Netflix were worth $352,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. State Street Corp boosted its holdings in Netflix by 2.6% in 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 purchasing an additional 426,740 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Netflix by 1.4% in the 3rd 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. Jennison Associates LLC boosted its holdings in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Netflix by 116,620.0% in 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 purchasing an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other Netflix news, Director Strive Masiyiwa sold 2,813 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 4,939 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,338,500. The trade was a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 303,809 shares of company stock valued at $290,374,484 in the last ninety days. Insiders own 1.76% of the company’s stock.

Netflix Trading Up 1.4 %

Shares of NASDAQ:NFLX opened at $1,058.60 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $926.92 and its two-hundred day moving average is $801.02. The company has a market cap of $452.83 billion, a PE ratio of 53.38, a P/E/G ratio of 2.11 and a beta of 1.27. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm posted $2.11 EPS. Equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NFLX shares. KeyCorp boosted their target price on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Wedbush reiterated an “outperform” rating and issued a $1,150.00 target price (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and upped their price objective for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Finally, Evercore ISI upped their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

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.