Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Secure Asset Management LLC

Secure Asset Management LLC lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 889 shares of the Internet television network’s stock after selling 114 shares during the period. Secure Asset Management LLC’s holdings in Netflix were worth $792,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in Netflix in the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Netflix in the third quarter valued at $37,000. FSA Wealth Management LLC acquired a new position in Netflix in the third quarter valued at $38,000. Finally, First Personal Financial Services purchased a new position in Netflix during the third quarter worth about $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.7 %

NASDAQ NFLX opened at $977.59 on Friday. The company’s fifty day moving average price is $892.06 and its two-hundred day moving average price is $764.95. The company has a market capitalization of $417.88 billion, a price-to-earnings ratio of 49.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $999.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 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 last year, the company posted $2.11 earnings per share. As a group, research analysts predict that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. 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 quarter. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NFLX. JPMorgan Chase & Co. upped their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird increased their price target on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $940.00 to $1,150.00 in a research note on Wednesday. The Goldman Sachs Group increased their target price on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Citigroup boosted their price target on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,009.29.

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.