Highland Capital Management LLC Trims Holdings in Netflix, Inc. (NASDAQ:NFLX)

Highland Capital Management LLC lowered its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,096 shares of the Internet television network's stock after selling 338 shares during the period. Highland Capital Management LLC's holdings in Netflix were worth $6,325,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in Netflix in the third quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network's stock worth $34,000 after acquiring an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Netflix during the third quarter valued at approximately $37,000. FSA Wealth Management LLC bought a new position in shares of Netflix during the third quarter worth $38,000. Finally, First Personal Financial Services bought a new position in shares of Netflix during the third quarter worth $40,000. 80.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 617 shares of the firm's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 41,601 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $758.06, for a total value of $31,536,054.06. Following the sale, the chairman now owns 85 shares in the company, valued at approximately $64,435.10. The trade was a 99.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,117 shares of company stock valued at $123,913,691 in the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on NFLX. Arete Research raised Netflix to a "hold" rating in a research note on Thursday, January 23rd. Bank of America lifted their price objective on Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a 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 note on Wednesday, January 22nd. Wells Fargo & Company increased their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Finally, Guggenheim boosted their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and an average price target of $1,021.70.

Netflix Trading Down 0.5 %

NASDAQ NFLX traded down $5.08 during trading hours on Thursday, hitting $973.07. 3,026,390 shares of the company's stock were exchanged, compared to its average volume of 4,515,843. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $999.00. The stock has a 50-day simple moving average of $901.54 and a 200 day simple moving average of $774.15. The firm has a market cap of $415.95 billion, a price-to-earnings ratio of 49.18, a PEG ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter in the previous year, the firm earned $2.11 earnings per share. Netflix's quarterly revenue was up 16.0% on a year-over-year basis. On average, equities analysts forecast that Netflix, Inc. will post 23.72 EPS for the current fiscal year.

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.