Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Cottage Street Advisors LLC

Cottage Street Advisors LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 22.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 425 shares of the Internet television network’s stock after selling 122 shares during the quarter. Cottage Street Advisors LLC’s holdings in Netflix were worth $379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NFLX. Nordea Investment Management AB grew its holdings in Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares in the last quarter. First National Trust Co increased its holdings in shares of Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after purchasing an additional 12 shares during the period. Haven Private LLC bought a new stake in shares of Netflix during the fourth quarter valued at about $733,000. Sigma Planning Corp lifted its holdings in Netflix by 7.4% in the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after purchasing an additional 386 shares during the period. Finally, M&T Bank Corp grew its position in Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other news, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock worth $279,142,041 in the last quarter. 1.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NFLX. Arete Research raised Netflix to a “hold” rating in a research note on Thursday, January 23rd. Morgan Stanley lifted their price objective on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group lifted their price target on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,016.78.

Netflix Stock Performance

NASDAQ NFLX opened at $997.28 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company’s 50-day simple moving average is $965.09 and its 200 day simple moving average is $863.43. The stock has a market cap of $426.59 billion, a P/E ratio of 50.29, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a twelve month low of $542.01 and a twelve 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 return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period last year, the firm posted $2.11 EPS. The business’s revenue was up 16.0% on a year-over-year basis. As a group, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.