Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 23.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 460,813 shares of the Internet television network’s stock after selling 143,903 shares during the quarter. Netflix comprises about 0.6% of Prudential Financial Inc.’s investment portfolio, making the stock its 24th biggest holding. Prudential Financial Inc.’s holdings in Netflix were worth $410,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NFLX. Proficio Capital Partners LLC raised its position in shares of Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after purchasing an additional 1,924,423 shares during the period. State Street Corp raised its holdings in Netflix by 2.6% during 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 buying an additional 426,740 shares during the period. Strategic Financial Concepts LLC lifted its stake in Netflix by 112,896.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after buying an additional 381,590 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Netflix in the third quarter worth about $222,871,000. Finally, KBC Group NV increased its position in shares of Netflix by 226.3% in the fourth quarter. KBC Group NV now owns 399,186 shares of the Internet television network’s stock worth $355,803,000 after acquiring an additional 276,865 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the sale, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. This represents a 88.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 288,103 shares of company stock valued at $279,142,041. Insiders own 1.76% of the company’s stock.

Netflix Stock Up 1.0 %

Shares of NFLX stock opened at $960.29 on Monday. The stock has a market cap of $410.77 billion, a P/E ratio of 48.43, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a fifty day moving average price of $959.08 and a 200 day moving average price of $859.06. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating 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 business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the business earned $2.11 EPS. The firm’s revenue was up 16.0% on a year-over-year basis. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wolfe Research upgraded 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. Arete Research upgraded shares of Netflix to a “hold” rating in a report on Thursday, January 23rd. Macquarie upped their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and lifted their target price for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Finally, Moffett Nathanson raised shares of Netflix from a “neutral” rating to a “buy” rating and upped their price target for the stock from $850.00 to $1,100.00 in a research note on Monday, March 17th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $1,016.78.

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.