Profit Investment Management LLC Sells 90 Shares of Netflix, Inc. (NASDAQ:NFLX)

Profit Investment Management LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.4% during the fourth quarter, HoldingsChannel reports. The fund owned 2,583 shares of the Internet television network’s stock after selling 90 shares during the period. Netflix comprises approximately 1.8% of Profit Investment Management LLC’s holdings, making the stock its 22nd largest position. Profit Investment Management LLC’s holdings in Netflix were worth $2,302,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NFLX. International Assets Investment Management LLC boosted its position in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after buying an additional 642,920 shares during the period. State Street Corp raised its stake in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the period. Jennison Associates LLC raised its stake in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP bought a new stake in Netflix during the 3rd quarter valued at approximately $222,871,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Rosenblatt Securities restated a “neutral” rating and set a $680.00 price objective on shares of Netflix in a report on Thursday. Loop Capital decreased their target price on Netflix from $950.00 to $925.00 and set a “hold” rating for the company in a research report on Thursday. Wells Fargo & Company boosted their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Citigroup boosted their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $845.06.

Netflix Stock Performance

Shares of NFLX opened at $842.37 on Friday. The company has a market cap of $360.08 billion, a PE ratio of 47.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a 50-day moving average of $882.41 and a 200-day moving average of $756.61. Netflix, Inc. has a one year low of $475.26 and a one year high of $941.75.

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

Insider Activity

In related news, Chairman Reed Hastings sold 41,601 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at approximately $64,435.10. This trade represents a 99.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 5,698 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the transaction, the director now owns 246 shares of the company’s stock, valued at $185,976. This represents a 95.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,198 shares of company stock worth $127,616,898. 1.76% of the stock is currently owned by corporate insiders.

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.