Gardner Russo & Quinn LLC Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Gardner Russo & Quinn LLC decreased its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 632,773 shares of the Internet television network's stock after selling 99,065 shares during the quarter. Netflix makes up about 6.4% of Gardner Russo & Quinn LLC's holdings, making the stock its 6th biggest position. Gardner Russo & Quinn LLC owned approximately 0.15% of Netflix worth $564,003,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Netflix in the fourth quarter worth approximately $5,019,087,000. Proficio Capital Partners LLC lifted its stake in shares of Netflix by 123,836.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock valued at $1,716,662,000 after purchasing an additional 1,924,423 shares during the last quarter. State Street Corp boosted 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 worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Strategic Financial Concepts LLC increased its position in Netflix by 112,896.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network's stock worth $340,420,000 after buying an additional 381,590 shares during the last quarter. Finally, KBC Group NV raised its holdings in Netflix by 226.3% during the fourth quarter. KBC Group NV now owns 399,186 shares of the Internet television network's stock valued at $355,803,000 after buying an additional 276,865 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

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Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 102,228 shares of Netflix stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 12,950 shares of the company's stock, valued at $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,583 shares of company stock valued at $279,611,567. 1.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Bank of America upped their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Benchmark raised Netflix from a "sell" rating to a "hold" rating in a research report on Wednesday, January 22nd. KeyCorp lifted their price target on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, Sanford C. Bernstein upgraded shares of Netflix from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,021.02.

Netflix Price Performance

NASDAQ:NFLX traded down $0.31 during trading hours on Monday, reaching $933.54. The company had a trading volume of 3,091,281 shares, compared to its average volume of 3,582,517. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $971.74 and a two-hundred day moving average of $869.42. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The firm has a market capitalization of $399.33 billion, a PE ratio of 46.77, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share 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 net margin of 22.34% and a return on equity of 38.32%. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.11 EPS. Analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.