Asset Dedication LLC Sells 2,698 Shares of Netflix, Inc. (NASDAQ:NFLX)

Asset Dedication LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 25.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,932 shares of the Internet television network’s stock after selling 2,698 shares during the period. Netflix accounts for 0.6% of Asset Dedication LLC’s portfolio, making the stock its 29th largest holding. Asset Dedication LLC’s holdings in Netflix were worth $7,070,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix during the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares in the last quarter. Decker Retirement Planning Inc. purchased a new position in shares of Netflix during the 4th quarter valued at $43,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix during the 3rd quarter valued at $37,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Netflix during the 3rd quarter valued at $38,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NFLX. JPMorgan Chase & Co. lifted their target price 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, January 22nd. Citigroup lifted their price target on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Oppenheimer lifted their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a 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 on the stock in a report on Thursday, January 23rd. Finally, Morgan Stanley lifted their price target on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Insiders sold a total of 147,117 shares of company stock valued at $123,913,691 in the last three months. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $971.83 on Wednesday. The stock has a market cap of $415.42 billion, a price-to-earnings ratio of 49.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. 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, Inc. has a 1 year low of $542.01 and a 1 year high of $999.00. The firm has a 50-day moving average of $899.64 and a two-hundred day moving average of $772.71.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.11 EPS. On average, research analysts forecast that Netflix, Inc. will post 23.72 earnings per share for the current year.

Netflix Company 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.