Fragasso Financial Advisors Inc Sells 417 Shares of Netflix, Inc. (NASDAQ:NFLX)

Fragasso Financial Advisors Inc reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,512 shares of the Internet television network’s stock after selling 417 shares during the period. Fragasso Financial Advisors Inc’s holdings in Netflix were worth $4,022,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. lifted its stake in Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares during the period. State Street Corp raised its holdings in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Netflix in the third quarter worth about $222,871,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NFLX traded down $0.10 during trading hours on Monday, hitting $837.59. 1,554,677 shares of the stock were exchanged, compared to its average volume of 2,861,208. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a 12-month low of $475.26 and a 12-month high of $941.75. The company has a market cap of $358.03 billion, a price-to-earnings ratio of 47.40, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The stock’s 50-day moving average price is $878.06 and its two-hundred day moving average price is $753.78.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Research analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research reports. Pivotal Research increased their price objective on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Bank of America lifted their price target on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. KeyCorp boosted their price target on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Argus increased their target price on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average target price of $827.79.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 358 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the transaction, the director now owns 35,262 shares of the company’s stock, valued at $26,975,430. This represents a 1.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,742 shares of company stock valued at $131,030,268. Insiders own 1.76% of the company’s stock.

About Netflix

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.