Summit Financial LLC Sells 899 Shares of Netflix, Inc. (NASDAQ:NFLX)

Summit Financial LLC decreased its stake in Netflix, Inc. (NASDAQ:NFLX) by 4.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 18,885 shares of the Internet television network’s stock after selling 899 shares during the quarter. Netflix makes up about 0.6% of Summit Financial LLC’s investment portfolio, making the stock its 27th biggest position. Summit Financial LLC’s holdings in Netflix were worth $16,833,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its holdings in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the last quarter. Newton One Investments LLC acquired a new stake in Netflix during the 4th quarter worth approximately $34,000. Pineridge Advisors LLC grew its holdings in Netflix by 4,000.0% during the 4th 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 last quarter. FSA Wealth Management LLC acquired a new position in Netflix in the 3rd quarter valued at approximately $38,000. Finally, Princeton Global Asset Management LLC raised its stake in shares of Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after acquiring an additional 16 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Down 4.4 %

NASDAQ NFLX opened at $933.85 on Monday. 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 firm has a market capitalization of $399.46 billion, a P/E ratio of 47.09, a PEG ratio of 2.12 and a beta of 1.38. The business has a fifty day simple moving average of $971.74 and a 200 day simple moving average of $869.42. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating 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 analyst estimates of $10.14 billion. During the same period last year, the firm earned $2.11 earnings per share. The firm’s revenue was up 16.0% on a year-over-year basis. On average, analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. UBS Group reiterated a “buy” rating on shares of Netflix in a report on Monday, March 10th. Loop Capital restated a “hold” rating on shares of Netflix in a report on Monday, March 24th. Finally, Argus upped their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.02.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 102,228 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at $12,700,583. This trade represents a 88.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now directly owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,583 shares of company stock worth $279,611,567 in the last 90 days. Insiders own 1.76% of the company’s stock.

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.