Netflix, Inc. (NASDAQ:NFLX) Shares Sold by SP Asset Management LLC

SP Asset Management LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,960 shares of the Internet television network’s stock after selling 37 shares during the quarter. SP Asset Management LLC’s holdings in Netflix were worth $2,638,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Proficio Capital Partners LLC grew its position in Netflix by 123,836.7% during 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 purchasing an additional 1,924,423 shares during the last quarter. State Street Corp grew its position 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 worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Strategic Financial Concepts LLC grew its position in Netflix by 112,896.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after purchasing an additional 381,590 shares during the last quarter. Jennison Associates LLC grew its position 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 worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Netflix during the 3rd quarter worth $222,871,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

NASDAQ:NFLX opened at $990.92 on Thursday. The firm has a 50 day simple moving average of $950.95 and a 200-day simple moving average of $838.65. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $423.87 billion, a PE ratio of 49.97, a P/E/G ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (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 firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the firm earned $2.11 earnings per share. Netflix’s revenue was up 16.0% compared to the same quarter last year. On average, equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on NFLX. Arete Research raised shares of Netflix to a “hold” rating in a research report on Thursday, January 23rd. Guggenheim raised their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Argus raised their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Citigroup lifted their target price on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. 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 stock. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insider Activity

In other news, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now directly owns 246 shares in the company, valued at approximately $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. Over the last three months, insiders sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is currently owned by company 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.