Morningstar Investment Management LLC Cuts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Morningstar Investment Management LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 26.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,610 shares of the Internet television network’s stock after selling 2,061 shares during the period. Netflix accounts for about 0.4% of Morningstar Investment Management LLC’s investment portfolio, making the stock its 28th biggest holding. Morningstar Investment Management LLC’s holdings in Netflix were worth $5,000,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of NFLX. International Assets Investment Management LLC lifted its stake in shares of 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 purchasing an additional 5,748,200 shares during 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 valued at $750,713,000 after buying an additional 642,920 shares during the last quarter. State Street Corp boosted its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Strategic Financial Concepts LLC grew its position in shares of Netflix by 112,896.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after buying an additional 381,590 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NFLX opened at $1,043.33 on Thursday. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The firm has a market capitalization of $446.29 billion, a PE ratio of 52.61, a PEG ratio of 2.15 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $936.88 and its 200 day moving average price is $814.17.

Netflix (NASDAQ:NFLX) last posted 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. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.11 EPS. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 102,228 shares of Netflix stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 303,220 shares of company stock worth $289,856,164. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Pivotal Research increased their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Oppenheimer lifted their price objective on Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. KeyCorp raised their target price on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

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.