Columbia Asset Management Lowers Stake in Netflix, Inc. (NASDAQ:NFLX)

Columbia Asset Management decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,311 shares of the Internet television network’s stock after selling 185 shares during the quarter. Columbia Asset Management’s holdings in Netflix were worth $3,842,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the period. First National Trust Co lifted its holdings in Netflix by 1.0% during the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after buying an additional 12 shares in the last quarter. Haven Private LLC purchased a new position in Netflix in the 4th quarter valued at approximately $733,000. Sigma Planning Corp grew its stake in shares of 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 acquiring an additional 386 shares in the last quarter. Finally, M&T Bank Corp grew its stake in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 41,121 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,583 shares of company stock valued at $279,611,567. 1.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on NFLX. Arete Research upgraded Netflix to a “hold” rating in a report on Thursday, January 23rd. Morgan Stanley increased their price target on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. FBN Securities started coverage on Netflix in a research report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $1,150.00 price target (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-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.02.

Netflix Price Performance

Netflix stock opened at $928.38 on Wednesday. The business has a 50 day simple moving average of $974.40 and a 200-day simple moving average of $872.78. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $397.12 billion, a PE ratio of 46.82, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter last year, the business earned $2.11 EPS. The business’s revenue was up 16.0% on a year-over-year basis. Equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.