Meritas Wealth Management LLC Has $493,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Meritas Wealth Management LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 553 shares of the Internet television network’s stock after selling 20 shares during the period. Meritas Wealth Management LLC’s holdings in Netflix were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. State Street Corp lifted its holdings 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. Geode Capital Management LLC grew its holdings in Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after buying an additional 123,029 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares in the last quarter. International Assets Investment Management LLC lifted its holdings 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 worth $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after acquiring an additional 23,702 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NFLX. KeyCorp lifted their price objective on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Bank of America lifted their price target on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Evercore ISI increased their price target on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Morgan Stanley raised their price objective on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $845.06.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $858.10 on Monday. The firm has a market cap of $366.80 billion, a PE ratio of 48.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a 52 week low of $476.06 and a 52 week high of $941.75. The firm’s fifty day moving average is $884.58 and its 200-day moving average is $759.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Sell-side analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now owns 246 shares in the company, valued at $216,327.48. This represents a 96.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,198 shares of company stock valued at $127,616,898 over the last ninety days. 1.76% of the stock is owned by company insiders.

About Netflix

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.