Wittenberg Investment Management Inc. Has $1.69 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Wittenberg Investment Management Inc. trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 22.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,833 shares of the Internet television network's stock after selling 545 shares during the quarter. Netflix makes up 0.7% of Wittenberg Investment Management Inc.'s portfolio, making the stock its 23rd biggest position. Wittenberg Investment Management Inc.'s holdings in Netflix were worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC boosted its holdings in shares of Netflix by 82.4% in the 4th 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 period. Newton One Investments LLC bought a new position in shares of Netflix during the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC raised its position in shares of 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 period. Princeton Global Asset Management LLC grew its stake in Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock worth $42,000 after buying an additional 16 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Netflix in the fourth quarter worth $43,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

NFLX has been the topic of several recent analyst reports. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Sanford C. Bernstein upgraded shares of Netflix from a "market perform" rating to an "outperform" rating and increased their target price for the company from $975.00 to $1,200.00 in a research report on Friday, January 24th. UBS Group set a $1,000.00 price target on shares of Netflix in a research report on Monday, March 24th. Guggenheim reiterated a "buy" rating and issued a $1,100.00 price objective on shares of Netflix in a report on Thursday. Finally, Canaccord Genuity Group raised Netflix from a "hold" rating to a "buy" rating and boosted their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,023.74.

Insider Buying and Selling

In other news, Director Richard N. Barton sold 6,364 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 25,360 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the transaction, the chairman now owns 394 shares of the company's stock, valued at $362,933.10. This trade represents a 98.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 280,676 shares of company stock valued at $273,515,672 over the last ninety days. 1.76% of the stock is owned by company insiders.

Netflix Stock Performance

NFLX stock traded down $61.19 on Friday, reaching $855.86. 6,781,959 shares of the company were exchanged, compared to its average volume of 3,625,380. The firm has a market capitalization of $366.10 billion, a PE ratio of 43.16, a PEG ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The stock's fifty day moving average price is $970.24 and its 200 day moving average price is $875.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results 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 return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the business earned $2.11 earnings per share. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. On average, research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal 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.