Kayne Anderson Rudnick Investment Management LLC Sells 1,883 Shares of Netflix, Inc. (NASDAQ:NFLX)

Kayne Anderson Rudnick Investment Management LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,663 shares of the Internet television network's stock after selling 1,883 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Netflix were worth $54,962,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Nordea Investment Management AB lifted its holdings in shares of Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network's stock worth $760,918,000 after acquiring an additional 156,958 shares during the last quarter. First National Trust Co grew its holdings in shares of Netflix by 1.0% during the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock worth $1,121,000 after acquiring an additional 12 shares during the period. Haven Private LLC purchased a new stake in shares of Netflix in the 4th quarter worth about $733,000. Sigma Planning Corp increased its stake in shares of Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network's stock valued at $4,966,000 after purchasing an additional 386 shares in the last quarter. Finally, M&T Bank Corp raised its stake in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network's stock valued at $29,751,000 after buying an additional 1,684 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Activity at Netflix

In other Netflix news, Director Ann Mather sold 2,682 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 274,472 shares of company stock worth $268,079,297. 1.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NFLX. Benchmark restated a "hold" rating on shares of Netflix in a research note on Monday. Wedbush increased their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday. Sanford C. Bernstein upgraded shares of Netflix from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $975.00 to $1,200.00 in a research note on Friday, January 24th. Pivotal Research reissued a "buy" rating and set a $1,350.00 target price (up previously from $1,250.00) on shares of Netflix in a research report on Thursday, April 17th. Finally, UBS Group cut their price objective on shares of Netflix from $1,150.00 to $1,140.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,070.65.

Netflix Price Performance

Netflix stock traded up $9.60 during mid-day trading on Wednesday, reaching $1,049.94. The company had a trading volume of 6,462,015 shares, compared to its average volume of 3,706,084. The business has a fifty day simple moving average of $954.01 and a 200 day simple moving average of $897.26. Netflix, Inc. has a fifty-two week low of $544.25 and a fifty-two week high of $1,064.97. The company has a market cap of $449.12 billion, a P/E ratio of 52.95, a P/E/G ratio of 2.12 and a beta of 1.55. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the prior year, the firm posted $8.28 earnings per share. On average, equities research analysts predict 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.