Ithaka Group LLC Sells 1,231 Shares of Netflix, Inc. (NASDAQ:NFLX)

Ithaka Group LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,914 shares of the Internet television network's stock after selling 1,231 shares during the quarter. Netflix comprises 3.6% of Ithaka Group LLC's portfolio, making the stock its 11th biggest holding. Ithaka Group LLC's holdings in Netflix were worth $19,532,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NFLX. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix in the third quarter valued at about $25,000. Pathway Financial Advisers LLC raised its holdings in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after buying an additional 14 shares during the last quarter. Newton One Investments LLC bought a new stake in Netflix during the 4th quarter worth about $34,000. MidAtlantic Capital Management Inc. bought a new stake in Netflix during the 3rd quarter worth about $37,000. Finally, Pineridge Advisors LLC raised its holdings in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after purchasing an additional 40 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $12,700,583. This represents a 88.76 % 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, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is owned by insiders.

Remove Ads

Netflix Stock Down 3.2 %

NASDAQ:NFLX traded down $29.51 during trading hours on Thursday, reaching $890.17. 4,994,613 shares of the stock were exchanged, compared to its average volume of 3,413,573. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a 50 day moving average of $950.30 and a 200 day moving average of $846.09. The stock has a market cap of $380.78 billion, a PE ratio of 44.89, a PEG ratio of 2.12 and a beta of 1.38.

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

Analyst Ratings Changes

Several analysts have weighed in on NFLX shares. Morgan Stanley boosted their price objective on Netflix from $1,050.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Loop Capital boosted their price objective on Netflix from $925.00 to $1,000.00 and gave the stock a "hold" rating in a report on Wednesday, January 22nd. Guggenheim boosted their price objective on Netflix from $950.00 to $1,100.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. 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. Finally, Benchmark raised Netflix from a "sell" rating to a "hold" rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,014.26.

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.