Abner Herrman & Brock LLC Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Abner Herrman & Brock LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 34,640 shares of the Internet television network’s stock after selling 467 shares during the quarter. Netflix comprises 3.8% of Abner Herrman & Brock LLC’s portfolio, making the stock its 6th biggest holding. Abner Herrman & Brock LLC’s holdings in Netflix were worth $30,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the stock. AMF Tjanstepension AB raised its stake in Netflix by 7.4% during the 3rd quarter. AMF Tjanstepension AB now owns 68,460 shares of the Internet television network’s stock valued at $48,557,000 after purchasing an additional 4,701 shares during the last quarter. Czech National Bank grew its position in Netflix by 6.5% during the third quarter. Czech National Bank now owns 87,425 shares of the Internet television network’s stock worth $62,008,000 after buying an additional 5,312 shares in the last quarter. GAMMA Investing LLC raised its holdings in Netflix by 29.4% in the 3rd quarter. GAMMA Investing LLC now owns 7,119 shares of the Internet television network’s stock valued at $5,049,000 after acquiring an additional 1,618 shares in the last quarter. Diversified Trust Co boosted its stake in Netflix by 69.1% during the third quarter. Diversified Trust Co now owns 10,635 shares of the Internet television network’s stock worth $7,544,000 after buying an additional 4,347 shares in the last quarter. Finally, Smith Anglin Financial LLC grew its stake in shares of Netflix by 28.4% in the 3rd quarter. Smith Anglin Financial LLC now owns 457 shares of the Internet television network’s stock valued at $324,000 after purchasing an additional 101 shares during the period. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NFLX shares. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Citigroup raised their target price on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Oppenheimer increased their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and issued a $1,150.00 target price (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Price Performance

Netflix stock opened at $976.76 on Monday. The stock has a fifty day moving average of $904.67 and a 200-day moving average of $778.61. The stock has a market capitalization of $417.82 billion, a P/E ratio of 49.26, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. 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, Inc. has a 52 week low of $542.01 and a 52 week high of $999.00.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 earnings per share. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,516 shares of company stock worth $92,377,637. Corporate 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.