Summitry LLC Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Summitry LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,925 shares of the Internet television network’s stock after selling 328 shares during the period. Netflix makes up about 2.1% of Summitry LLC’s investment portfolio, making the stock its 18th biggest position. Summitry LLC’s holdings in Netflix were worth $43,608,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Pathway Financial Advisers LLC grew its stake in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the third quarter valued at approximately $25,000. Newton One Investments LLC purchased a new stake in Netflix during the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC raised its position in Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC boosted its stake in shares of Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after acquiring an additional 16 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on NFLX shares. Wolfe Research upgraded Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a research report on Thursday, January 23rd. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and raised their target price for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Bank of America raised their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,016.78.

Insider Activity

In related news, Director Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the sale, the chairman now directly owns 114 shares in the company, valued at $101,241.12. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Up 2.6 %

Shares of NASDAQ NFLX opened at $997.28 on Wednesday. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The firm has a market capitalization of $426.59 billion, a price-to-earnings ratio of 50.29, a PEG ratio of 2.12 and a beta of 1.38. The stock has a 50 day moving average price of $965.09 and a 200 day moving average price of $863.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS 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 firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the firm posted $2.11 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current 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.