Brookstone Capital Management Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Brookstone Capital Management cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.3% during the 4th quarter, Holdings Channel reports. The fund owned 7,392 shares of the Internet television network’s stock after selling 94 shares during the period. Brookstone Capital Management’s holdings in Netflix were worth $6,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NFLX. 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 during the period. Geode Capital Management LLC increased its position in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the period. International Assets Investment Management LLC lifted its position in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after acquiring an additional 23,702 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 358 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the transaction, the director now directly owns 35,262 shares in the company, valued at approximately $26,975,430. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,742 shares of company stock worth $131,030,268. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Up 0.3 %

Shares of NFLX opened at $840.29 on Tuesday. Netflix, Inc. has a 12-month low of $475.26 and a 12-month high of $941.75. The firm has a fifty day moving average price of $879.75 and a 200-day moving average price of $754.88. The firm has a market capitalization of $359.19 billion, a P/E ratio of 47.55, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Equities research analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent analyst reports. TD Cowen lifted their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday, October 18th. The Goldman Sachs Group lifted their target price on shares of Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Barclays reiterated an “underweight” rating and issued a $550.00 price target on shares of Netflix in a research note on Friday, October 18th. Wolfe Research restated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Finally, Canaccord Genuity Group increased their target price on Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $832.94.

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.