Washington Trust Advisors Inc. Sells 172 Shares of Netflix, Inc. (NASDAQ:NFLX)

Washington Trust Advisors Inc. lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 25.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 508 shares of the Internet television network’s stock after selling 172 shares during the period. Washington Trust Advisors Inc.’s holdings in Netflix were worth $453,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NFLX. Swedbank AB raised its holdings in Netflix by 1.8% in the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock valued at $329,958,000 after buying an additional 8,024 shares during the last quarter. Moloney Securities Asset Management LLC bought a new position in Netflix in the 3rd quarter valued at approximately $777,000. United Advisor Group LLC raised its holdings in Netflix by 23.0% in the 3rd quarter. United Advisor Group LLC now owns 839 shares of the Internet television network’s stock valued at $595,000 after buying an additional 157 shares during the last quarter. Pittenger & Anderson Inc. raised its holdings in Netflix by 30.5% in the 3rd quarter. Pittenger & Anderson Inc. now owns 2,314 shares of the Internet television network’s stock valued at $1,641,000 after buying an additional 541 shares during the last quarter. Finally, Crestwood Advisors Group LLC raised its holdings in Netflix by 7.2% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,027 shares of the Internet television network’s stock valued at $2,147,000 after buying an additional 203 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at $3,624,746.55. The trade was a 41.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 30,485 shares of Netflix stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total value of $29,933,831.20. Following the sale, the chairman now owns 394 shares in the company, valued at $386,876.48. The trade was a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock worth $279,142,041 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Loop Capital increased their target price on shares of Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Morgan Stanley increased 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 report on Wednesday, January 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $990.92 on Thursday. 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 stock’s fifty day simple moving average is $950.95 and its two-hundred day simple moving average is $838.65. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The stock has a market cap of $423.87 billion, a PE ratio of 49.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same period last year, the business earned $2.11 EPS. The business’s revenue was up 16.0% on a year-over-year basis. As a group, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Netflix 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.