Ithaka Group LLC Has $19.53 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Ithaka Group LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,914 shares of the Internet television network’s stock after selling 1,231 shares during the quarter. Netflix comprises approximately 3.6% of Ithaka Group LLC’s holdings, making the stock its 11th biggest position. Ithaka Group LLC’s holdings in Netflix were worth $19,532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of NFLX. Proficio Capital Partners LLC increased its stake in Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after acquiring an additional 1,924,423 shares during the last quarter. State Street Corp boosted its holdings in shares of Netflix by 2.6% during 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 period. Strategic Financial Concepts LLC boosted its holdings in shares of Netflix by 112,896.4% during the fourth 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 period. Jennison Associates LLC raised its stake in Netflix by 4.7% in 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. Finally, Westfield Capital Management Co. LP bought a new position in Netflix in the third quarter worth about $222,871,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the topic of several research reports. KeyCorp raised their target price on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Evercore ISI raised their target price on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Loop Capital raised their target price on shares of Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Wedbush restated an “outperform” rating and issued a $1,150.00 target price (up previously from $950.00) on shares of Netflix 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.com, Netflix has an average rating of “Moderate Buy” and an average price target of $1,014.26.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the transaction, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,103 shares of company stock valued at $279,142,041. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NFLX stock opened at $919.68 on Thursday. The stock’s fifty day simple moving average is $950.23 and its 200 day simple moving average is $845.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick 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 $393.40 billion, a price-to-earnings ratio of 46.38, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.11 earnings per share. On average, analysts expect 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.