Patten & Patten Inc. TN Has $852,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Patten & Patten Inc. TN lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLXFree Report) by 37.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,749 shares of the Internet television network’s stock after selling 1,025 shares during the period. Patten & Patten Inc. TN’s holdings in Netflix were worth $852,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Private Ocean LLC increased its stake in Netflix by 87.7% in the fourth quarter. Private Ocean LLC now owns 107 shares of the Internet television network’s stock valued at $52,000 after acquiring an additional 50 shares during the period. State of Michigan Retirement System grew its stake in Netflix by 10.7% during the fourth quarter. State of Michigan Retirement System now owns 134,449 shares of the Internet television network’s stock worth $65,461,000 after buying an additional 13,000 shares during the last quarter. OPTIMAS CAPITAL Ltd bought a new stake in Netflix during the fourth quarter worth about $2,640,000. Pinnacle Financial Partners Inc grew its stake in Netflix by 6.3% during the fourth quarter. Pinnacle Financial Partners Inc now owns 6,081 shares of the Internet television network’s stock worth $2,961,000 after buying an additional 358 shares during the last quarter. Finally, Nvest Financial LLC grew its stake in Netflix by 65.3% during the fourth quarter. Nvest Financial LLC now owns 1,676 shares of the Internet television network’s stock worth $816,000 after buying an additional 662 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of research reports. Jefferies Financial Group upped their target price on shares of Netflix from $580.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 12th. Morgan Stanley upped their target price on shares of Netflix from $550.00 to $600.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Wedbush increased their price objective on shares of Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a report on Wednesday, March 27th. TD Cowen increased their price objective on shares of Netflix from $565.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, Bank of America increased their price objective on shares of Netflix from $585.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $583.18.

Read Our Latest Stock Analysis on NFLX

Netflix Stock Performance

NASDAQ NFLX opened at $614.21 on Wednesday. The firm has a 50-day moving average of $591.75 and a 200-day moving average of $493.62. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $265.81 billion, a PE ratio of 51.14, a P/E/G ratio of 1.66 and a beta of 1.22. Netflix, Inc. has a 52-week low of $315.62 and a 52-week high of $634.39.

Netflix (NASDAQ:NFLXGet Free Report) last posted its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The company had revenue of $8.83 billion for the quarter, compared to analyst estimates of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 EPS. On average, sell-side analysts anticipate that Netflix, Inc. will post 17.01 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $17,575,476.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 13,655 shares of Netflix stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $7,118,342. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock worth $151,619,811 in the last quarter. 2.45% of the stock is currently owned by corporate insiders.

Netflix Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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