NorthCrest Asset Manangement LLC Trims Position in Netflix, Inc. (NASDAQ:NFLX)

NorthCrest Asset Manangement LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,242 shares of the Internet television network’s stock after selling 26 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Netflix were worth $2,890,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NFLX. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix in the third quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Netflix during the 3rd quarter valued at approximately $37,000. FSA Wealth Management LLC purchased a new stake in shares of Netflix during the 3rd quarter worth approximately $38,000. Finally, First Personal Financial Services acquired a new stake in shares of Netflix in the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several research reports. Oppenheimer lifted their price objective on Netflix from $825.00 to $1,065.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Argus boosted their price target on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft increased their price objective on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their target price on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Canaccord Genuity Group raised their price target on shares of Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $824.00.

Insider Transactions at Netflix

In related news, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 156,742 shares of company stock valued at $131,030,268. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX traded down $34.86 during midday trading on Friday, hitting $840.14. 1,798,484 shares of the stock traded hands, compared to its average volume of 2,571,448. The business’s 50 day moving average price is $876.43 and its two-hundred day moving average price is $751.52. The firm has a market capitalization of $359.12 billion, a PE ratio of 47.55, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a 1-year low of $475.26 and a 1-year high of $941.75.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Equities research analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

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.