Zevenbergen Capital Investments LLC Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Zevenbergen Capital Investments LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 9.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 140,093 shares of the Internet television network’s stock after selling 14,274 shares during the period. Netflix accounts for approximately 2.5% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 13th largest position. Zevenbergen Capital Investments LLC’s holdings in Netflix were worth $124,868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. West Michigan Advisors LLC grew its position in Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after purchasing an additional 10 shares during the period. Warwick Investment Management Inc. lifted its stake in shares of Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock valued at $266,000 after buying an additional 10 shares in the last quarter. MRP Capital Investments LLC increased its holdings in Netflix by 1.0% in the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after acquiring an additional 10 shares during the last quarter. Enzi Wealth increased its holdings in Netflix by 3.4% in the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock valued at $316,000 after acquiring an additional 11 shares during the last quarter. Finally, TCI Wealth Advisors Inc. increased its holdings in Netflix by 1.6% in the 4th quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock valued at $624,000 after acquiring an additional 11 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of research reports. Pivotal Research boosted their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. UBS Group reissued a “buy” rating on shares of Netflix in a research report on Monday, March 10th. Wedbush restated an “outperform” rating and set a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Needham & Company LLC upped their price target on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and increased their price objective for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Ten equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,016.78.

Netflix Price Performance

Shares of NFLX opened at $960.29 on Monday. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The firm has a market capitalization of $410.77 billion, a PE ratio of 48.43, a PEG ratio of 2.12 and a beta of 1.38. The company’s 50-day moving average is $959.08 and its 200-day moving average is $859.06. 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 (NASDAQ:NFLX) last posted 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. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $2.11 EPS. Equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In related news, CAO Jeffrey William Karbowski sold 160 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $12,700,583. This represents a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 288,103 shares of company stock worth $279,142,041 in the last quarter. 1.76% of the stock is owned by corporate insiders.

Netflix 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.