Brown Brothers Harriman & Co. Sells 1,830 Shares of Netflix, Inc. (NASDAQ:NFLX)

Brown Brothers Harriman & Co. lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 42.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,526 shares of the Internet television network's stock after selling 1,830 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in Netflix were worth $2,251,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after purchasing an additional 171,712 shares during the last quarter. State Street Corp increased its position 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 worth $12,023,082,000 after buying an additional 426,740 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network's stock worth $6,464,736,000 after buying an additional 123,029 shares during the last quarter. Norges Bank bought a new stake in shares of Netflix in the fourth quarter valued at approximately $5,019,087,000. Finally, Wellington Management Group LLP grew its stake in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network's stock worth $3,473,571,000 after acquiring an additional 23,702 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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Netflix Stock Up 1.4 %

NASDAQ:NFLX traded up $12.99 on Wednesday, hitting $941.37. 1,513,859 shares of the company's stock were exchanged, compared to its average volume of 3,584,953. The company has a market cap of $402.68 billion, a P/E ratio of 47.54, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The firm has a 50-day moving average price of $974.40 and a 200-day moving average price of $872.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix's revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.11 earnings per share. As a group, analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NFLX. Canaccord Genuity Group raised shares of Netflix from a "hold" rating to a "buy" rating and increased their price target for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Rosenblatt Securities raised shares of Netflix from a "neutral" rating to a "buy" rating and upped their target price for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Bank of America lifted their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Pivotal Research upped their price objective on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Finally, Moffett Nathanson upgraded shares of Netflix from a "neutral" rating to a "buy" rating and lifted their target price for the company from $850.00 to $1,100.00 in a research note on Monday, March 17th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,021.02.

Insider Buying and Selling

In related news, insider David A. Hyman sold 41,121 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $30,946,506.10. This represents a 56.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the firm's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now directly owns 246 shares of the company's stock, valued at $216,327.48. This 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 288,583 shares of company stock worth $279,611,567. Insiders own 1.76% of the company's stock.

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.