Stonegate Investment Group LLC Lowers Holdings in Netflix, Inc. (NASDAQ:NFLX)

Stonegate Investment Group LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,121 shares of the Internet television network’s stock after selling 84 shares during the quarter. Stonegate Investment Group LLC’s holdings in Netflix were worth $999,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Magnolia Capital Advisors LLC grew its position in Netflix by 3.0% in the second quarter. Magnolia Capital Advisors LLC now owns 961 shares of the Internet television network’s stock worth $649,000 after acquiring an additional 28 shares in the last quarter. Kimelman & Baird LLC purchased a new position in shares of Netflix in the 2nd quarter worth about $253,000. Advisory Alpha LLC increased its position in shares of Netflix by 1.5% during the 2nd quarter. Advisory Alpha LLC now owns 1,587 shares of the Internet television network’s stock valued at $1,071,000 after purchasing an additional 23 shares during the last quarter. Ted Buchan & Co purchased a new position in shares of Netflix during the 2nd quarter valued at about $1,091,000. Finally, Heartland Bank & Trust Co lifted its position in Netflix by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after buying an additional 15 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Down 0.0 %

Shares of NASDAQ:NFLX opened at $971.83 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $897.63 and a two-hundred day simple moving average of $770.43. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $999.00. The stock has a market capitalization of $415.42 billion, a price-to-earnings ratio of 49.01, a PEG ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the previous year, the business posted $2.11 EPS. Netflix’s revenue was up 16.0% compared to the same quarter last year. On average, research analysts anticipate that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jay C. Hoag sold 617 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. Insiders have sold a total of 147,117 shares of company stock worth $123,913,691 over the last 90 days. 1.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NFLX. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Evercore ISI boosted their price target on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Oppenheimer upped their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Arete Research upgraded Netflix to a “hold” rating in a report on Thursday, January 23rd. Finally, Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and increased their target price for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

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.