Sei Investments Co. Cuts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Sei Investments Co. reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 641,136 shares of the Internet television network's stock after selling 47,076 shares during the quarter. Netflix accounts for 0.7% of Sei Investments Co.'s holdings, making the stock its 19th biggest holding. Sei Investments Co. owned approximately 0.15% of Netflix worth $571,455,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Proficio Capital Partners LLC raised its holdings in shares of Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after buying an additional 1,924,423 shares in the last quarter. State Street Corp boosted its stake 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 valued at $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Strategic Financial Concepts LLC raised its stake 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 acquiring an additional 381,590 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Netflix in the third quarter worth about $222,871,000. Finally, KBC Group NV boosted its stake in shares of Netflix by 226.3% in the 4th quarter. KBC Group NV now owns 399,186 shares of the Internet television network's stock valued at $355,803,000 after purchasing an additional 276,865 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

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Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 35,868 shares of the firm's stock in a transaction dated 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 transaction, the chairman now owns 114 shares of the company's stock, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. 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 company insiders.

Netflix Stock Up 2.6 %

NASDAQ NFLX traded up $25.29 on Tuesday, hitting $997.28. 3,775,858 shares of the company were exchanged, compared to its average volume of 3,480,373. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $426.59 billion, a PE ratio of 50.29, a PEG ratio of 2.12 and a beta of 1.38. The stock has a fifty day moving average of $961.71 and a 200-day moving average of $861.09.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NFLX. Rosenblatt Securities upgraded shares of Netflix from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Wolfe Research upgraded shares of Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price target for the company in a report on Thursday, January 23rd. Arete Research raised Netflix to a "hold" rating in a report on Thursday, January 23rd. Sanford C. Bernstein upgraded Netflix from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their target price on Netflix from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,016.78.

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.