Summit Financial LLC Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Summit Financial LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,885 shares of the Internet television network's stock after selling 899 shares during the quarter. Netflix comprises 0.6% of Summit Financial LLC's portfolio, making the stock its 27th biggest holding. Summit Financial LLC's holdings in Netflix were worth $16,833,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Hoey Investments Inc. increased its stake in Netflix by 3.0% in the 4th quarter. Hoey Investments Inc. now owns 1,739 shares of the Internet television network's stock worth $1,550,000 after buying an additional 50 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Netflix by 1.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network's stock worth $4,582,568,000 after acquiring an additional 82,564 shares during the period. Bedell Frazier Investment Counselling LLC grew its position in shares of Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after purchasing an additional 10 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in Netflix by 53.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 13,269 shares of the Internet television network's stock valued at $11,827,000 after purchasing an additional 4,594 shares during the period. Finally, D L Carlson Investment Group Inc. lifted its holdings in Netflix by 3.9% in the 4th quarter. D L Carlson Investment Group Inc. now owns 6,039 shares of the Internet television network's stock worth $5,383,000 after purchasing an additional 225 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

NFLX has been the topic of several recent analyst reports. Bank of America lifted their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. StockNews.com downgraded shares of Netflix from a "buy" rating to a "hold" rating in a report on Tuesday, February 4th. Moffett Nathanson upgraded Netflix from a "neutral" rating to a "buy" rating and raised their price objective for the company from $850.00 to $1,100.00 in a research report on Monday, March 17th. Canaccord Genuity Group raised Netflix from a "hold" rating to a "buy" rating and lifted their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Finally, Wolfe Research raised Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price target for the company in a research note on Thursday, January 23rd. Ten 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. According to data from MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and an average target price of $1,021.02.

Insider Buying and Selling 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 stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now owns 114 shares of the company's stock, valued at $101,241.12. This trade represents a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Barton sold 6,364 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares of the company's stock, valued at $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,583 shares of company stock valued at $279,611,567. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Down 0.4 %

Shares of NFLX stock traded down $4.15 during mid-day trading on Tuesday, hitting $928.38. The stock had a trading volume of 3,514,962 shares, compared to its average volume of 3,592,921. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm's 50-day moving average is $973.23 and its two-hundred day moving average is $871.15. The firm has a market capitalization of $397.12 billion, a P/E ratio of 46.82, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

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