Baskin Financial Services Inc. Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Baskin Financial Services Inc. lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 55,704 shares of the Internet television network’s stock after selling 1,164 shares during the period. Netflix accounts for approximately 3.9% of Baskin Financial Services Inc.’s holdings, making the stock its 11th largest holding. Baskin Financial Services Inc.’s holdings in Netflix were worth $49,650,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NFLX. International Assets Investment Management LLC grew its holdings in 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 worth $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Netflix by 154.7% during 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 purchasing an additional 642,920 shares during the last quarter. State Street Corp grew its stake in Netflix by 2.6% in the third 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 grew its stake in 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 purchasing an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Netflix in the third quarter valued at about $222,871,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Phillip Securities downgraded shares of Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Insider Buying and Selling at Netflix

In other news, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Theodore A. Sarandos sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the transaction, the chief executive officer now directly owns 2,556 shares in the company, valued at $1,960,579.80. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 105,516 shares of company stock valued at $92,377,637 in the last three months. 1.76% of the stock is currently owned by company insiders.

Netflix Trading Up 0.4 %

Shares of NASDAQ NFLX opened at $976.76 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $999.00. The company has a market cap of $417.82 billion, a price-to-earnings ratio of 49.26, a P/E/G ratio of 2.02 and a beta of 1.27. The business has a fifty day simple moving average of $904.67 and a 200-day simple moving average of $778.61.

Netflix (NASDAQ:NFLX) last announced its 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. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period last year, the company posted $2.11 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Sell-side analysts predict that Netflix, Inc. will post 24.58 EPS 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.