LGT Fund Management Co Ltd. Sells 4,086 Shares of Netflix, Inc. (NASDAQ:NFLX)

LGT Fund Management Co Ltd. lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 92.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 317 shares of the Internet television network’s stock after selling 4,086 shares during the period. LGT Fund Management Co Ltd.’s holdings in Netflix were worth $283,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC raised its holdings in shares of Netflix by 123,836.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after acquiring an additional 1,924,423 shares during the last quarter. State Street Corp boosted its position in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Netflix by 112,896.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after buying an additional 381,590 shares during the last quarter. Jennison Associates LLC grew its position in shares of 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 acquiring an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Netflix in the third quarter worth about $222,871,000. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NFLX shares. Citigroup increased their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. upped their target price on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Phillip Securities cut Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Bank of America lifted their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Performance

NFLX stock opened at $973.70 on Tuesday. The firm has a 50-day simple moving average of $948.96 and a two-hundred day simple moving average of $835.48. 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 one year low of $542.01 and a one year high of $1,064.50. The firm has a market cap of $416.51 billion, a price-to-earnings ratio of 49.10, a PEG ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS 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 during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the company posted $2.11 earnings per share. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $30,946,506.10. The trade was a 56.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $12,700,583. This represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,017 shares of company stock valued at $246,653,898 in the last quarter. 1.76% of the stock is currently owned by corporate insiders.

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.