Netflix, Inc. (NASDAQ:NFLX) Position Trimmed by Balentine LLC

Balentine LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 26.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 476 shares of the Internet television network’s stock after selling 171 shares during the period. Balentine LLC’s holdings in Netflix were worth $424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NFLX. AMF Tjanstepension AB boosted its stake in Netflix by 7.4% in the 3rd quarter. AMF Tjanstepension AB now owns 68,460 shares of the Internet television network’s stock worth $48,557,000 after purchasing an additional 4,701 shares during the period. CHICAGO TRUST Co NA lifted its holdings in shares of Netflix by 25.8% in the third quarter. CHICAGO TRUST Co NA now owns 1,003 shares of the Internet television network’s stock valued at $711,000 after purchasing an additional 206 shares in the last quarter. Gilman Hill Asset Management LLC acquired a new stake in shares of Netflix in the third quarter worth $223,000. Capricorn Fund Managers Ltd grew its holdings in shares of Netflix by 28.0% during the third quarter. Capricorn Fund Managers Ltd now owns 1,664 shares of the Internet television network’s stock valued at $1,180,000 after buying an additional 364 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Netflix by 210.1% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,163 shares of the Internet television network’s stock valued at $825,000 after buying an additional 788 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,027.60 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm’s 50-day moving average is $917.36 and its 200-day moving average is $792.29. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,032.85. The company has a market cap of $439.57 billion, a price-to-earnings ratio of 51.82, a PEG ratio of 2.11 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) 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 firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the company posted $2.11 earnings per share. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 4,434 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,015.00, for a total value of $4,500,510.00. Following the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $13,144,250. This represents a 25.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now owns 246 shares of the company’s stock, valued at $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 ninety days, insiders sold 298,870 shares of company stock worth $285,287,314. 1.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NFLX shares. TD Cowen raised their price objective on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Bank of America raised their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. KeyCorp upped their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Phillip Securities cut shares of Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

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.