CIBC Private Wealth Group LLC Sells 5,146 Shares of Netflix, Inc. (NASDAQ:NFLX)

CIBC Private Wealth Group LLC decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,685 shares of the Internet television network's stock after selling 5,146 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Netflix were worth $160,724,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NFLX. Pathway Financial Advisers LLC grew its holdings in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after purchasing an additional 14 shares during the last quarter. Newton One Investments LLC bought a new position in shares of Netflix during the fourth quarter worth about $34,000. Pineridge Advisors LLC lifted its stake in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after acquiring an additional 40 shares during the period. Princeton Global Asset Management LLC boosted its holdings in Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock valued at $42,000 after acquiring an additional 16 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Netflix during the 4th quarter valued at approximately $43,000. Institutional investors own 80.93% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Argus upped their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Wedbush restated an "outperform" rating and set a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. UBS Group restated a "buy" rating on shares of Netflix in a report on Monday, March 10th. The Goldman Sachs Group upped their price objective on shares of Netflix from $850.00 to $960.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Finally, Sanford C. Bernstein raised Netflix from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $975.00 to $1,200.00 in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,021.02.

Insider Activity

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the transaction, the chief executive officer now owns 12,950 shares in the company, valued at $12,700,583. The trade was a 88.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,583 shares of company stock valued at $279,611,567. Insiders own 1.76% of the company's stock.

Netflix Price Performance

Shares of NASDAQ NFLX traded down $1.32 during trading hours on Monday, reaching $932.53. 4,628,099 shares of the stock traded hands, compared to its average volume of 3,587,331. The company has a market capitalization of $398.90 billion, a P/E ratio of 47.03, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company's 50-day simple moving average is $971.74 and its two-hundred day simple moving average is $869.42. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. 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 announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts' consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the business posted $2.11 EPS. The business's quarterly revenue was up 16.0% on a year-over-year basis. Equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

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.