Netflix, Inc. (NASDAQ:NFLX) Position Lowered by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 27.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,914 shares of the Internet television network's stock after selling 3,047 shares during the quarter. Netflix accounts for 3.6% of Guinness Atkinson Asset Management Inc's investment portfolio, making the stock its 10th largest position. Guinness Atkinson Asset Management Inc's holdings in Netflix were worth $7,054,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. State Street Corp raised its holdings in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network's stock valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 raised its holdings in shares of 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 in the last quarter. International Assets Investment Management LLC lifted its position in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network's stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Netflix by 0.5% during 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 purchasing an additional 23,702 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Price Performance

NASDAQ:NFLX traded up $15.73 during trading hours on Monday, hitting $858.10. The company's stock had a trading volume of 3,563,913 shares, compared to its average volume of 2,297,633. The company has a market capitalization of $366.80 billion, a PE ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a 52-week low of $476.06 and a 52-week high of $941.75. The business's 50-day moving average is $884.58 and its two-hundred day moving average is $759.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. As a group, research analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 1,278 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the transaction, the chief executive officer now directly owns 2,556 shares in the company, valued at approximately $1,960,579.80. The trade was a 33.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares of the company's stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 152,198 shares of company stock worth $127,616,898. 1.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Guggenheim lifted their price target on Netflix from $825.00 to $950.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Loop Capital decreased their target price on Netflix from $950.00 to $925.00 and set a "hold" rating for the company in a research note on Thursday. UBS Group increased their price target on shares of Netflix from $825.00 to $1,040.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. StockNews.com raised shares of Netflix from a "hold" rating to a "buy" rating in a report on Saturday, December 21st. Finally, Canaccord Genuity Group increased their target price on shares of Netflix from $760.00 to $940.00 and gave the company a "hold" rating in a research report on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $845.06.

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.