Netflix, Inc. (NASDAQ:NFLX) Stock Position Decreased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 2.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 183,685 shares of the Internet television network’s stock after selling 5,146 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Netflix were worth $160,724,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NFLX. Pathway Financial Advisers LLC grew its position in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares in the last quarter. Newton One Investments LLC bought a new stake in Netflix in the fourth quarter worth $34,000. Pineridge Advisors LLC increased its position in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after buying an additional 40 shares during the last quarter. Princeton Global Asset Management LLC raised its holdings in Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after buying an additional 16 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Netflix in the fourth quarter worth about $43,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on NFLX. UBS Group reiterated a “buy” rating on shares of Netflix in a report on Monday, March 10th. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and raised their target price for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and upped their price target for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. The Goldman Sachs Group raised their price objective on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Oppenheimer upped their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus price target of $1,021.02.

Netflix Trading Down 4.4 %

NASDAQ:NFLX opened at $933.85 on Friday. The business has a 50 day moving average price of $971.74 and a two-hundred day moving average price of $868.10. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $399.46 billion, a P/E ratio of 47.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.11 earnings per share. As a group, analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 41,121 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. Insiders have sold 288,583 shares of company stock worth $279,611,567 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Netflix 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.