Hartford Investment Management Co. Sells 606 Shares of Netflix, Inc. (NASDAQ:NFLX)

Hartford Investment Management Co. lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,414 shares of the Internet television network’s stock after selling 606 shares during the quarter. Netflix comprises 0.8% of Hartford Investment Management Co.’s portfolio, making the stock its 21st largest position. Hartford Investment Management Co.’s holdings in Netflix were worth $23,543,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares in the last quarter. Newton One Investments LLC purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $34,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Netflix during the third quarter valued at approximately $37,000. Finally, Pineridge Advisors LLC increased its position in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. KeyCorp upped their price objective on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Guggenheim increased their price objective on Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Macquarie lifted their price objective on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Pivotal Research upped their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Robert W. Baird raised their price target on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Stock Performance

Netflix stock opened at $1,008.08 on Wednesday. The company’s 50-day moving average price is $919.96 and its 200-day moving average price is $795.06. 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 has a market cap of $431.22 billion, a PE ratio of 50.84, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,032.85.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.11 earnings per share. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,809 shares of company stock worth $290,374,484. Company 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.