Wakefield Asset Management LLLP Sells 1,438 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wakefield Asset Management LLLP trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 27.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,886 shares of the Internet television network’s stock after selling 1,438 shares during the period. Netflix comprises about 1.2% of Wakefield Asset Management LLLP’s investment portfolio, making the stock its 28th largest position. Wakefield Asset Management LLLP’s holdings in Netflix were worth $3,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp increased its holdings in 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 purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Netflix by 1.4% in 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 buying an additional 123,029 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares during the last quarter. Wellington Management Group LLP lifted its position in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Netflix by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock valued at $3,178,905,000 after acquiring an additional 123,987 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NFLX opened at $963.07 on Friday. The stock has a market capitalization of $411.96 billion, a price-to-earnings ratio of 48.57, a PEG ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The firm has a fifty day simple moving average of $946.29 and a 200 day simple moving average of $828.40. 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 (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter last year, the company earned $2.11 EPS. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. Research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NFLX. The Goldman Sachs Group upped their target price on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $975.00 to $1,200.00 in a research report on Friday, January 24th. Argus boosted their target price on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Pivotal Research raised their price target on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a report on Thursday, January 23rd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $13,338,500. This trade represents a 27.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 303,380 shares of company stock valued at $290,016,164. 1.76% of the stock is owned by corporate insiders.

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.