Certified Advisory Corp Trims Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Certified Advisory Corp lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,144 shares of the Internet television network’s stock after selling 20 shares during the period. Certified Advisory Corp’s holdings in Netflix were worth $1,019,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. DigitalBridge Group Inc. boosted its stake in Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Netflix by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after acquiring an additional 29,726 shares during the period. Natixis Advisors LLC grew its stake in Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after acquiring an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares during the period. 80.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on NFLX shares. Wells Fargo & Company raised their price target on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Canaccord Genuity Group raised their price target on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Needham & Company LLC upped their price objective on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Sanford C. Bernstein lifted their target price on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $845.06.

Insider Activity at Netflix

In other news, Director Richard N. Barton sold 5,698 shares of Netflix stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the completion of the transaction, the director now directly owns 246 shares in the company, valued at approximately $185,976. This trade represents a 95.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock valued at $127,616,898 in the last three months. Company insiders own 1.76% of the company’s stock.

Netflix Trading Up 1.9 %

NASDAQ NFLX opened at $858.10 on Friday. The firm has a market capitalization of $366.80 billion, a PE ratio of 48.56, a P/E/G ratio of 1.35 and a beta of 1.27. The stock’s 50 day moving average is $883.32 and its 200 day moving average is $757.20. Netflix, Inc. has a twelve month low of $476.06 and a twelve month high of $941.75. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Netflix Company 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.