Obermeyer Wood Investment Counsel Lllp Sells 238 Shares of Netflix, Inc. (NASDAQ:NFLX)

Obermeyer Wood Investment Counsel Lllp reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 28.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 606 shares of the Internet television network’s stock after selling 238 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in Netflix were worth $295,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Netflix in the fourth quarter worth $1,501,762,000. Moneta Group Investment Advisors LLC lifted its holdings in Netflix by 117,939.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock valued at $808,575,000 after purchasing an additional 2,739,725 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after buying an additional 2,061,859 shares in the last quarter. Alliancebernstein L.P. boosted its position in Netflix by 202.7% during the second quarter. Alliancebernstein L.P. now owns 1,790,092 shares of the Internet television network’s stock worth $788,518,000 after acquiring an additional 1,198,774 shares during the last quarter. Finally, Barclays PLC boosted its position in Netflix by 113.1% during the second quarter. Barclays PLC now owns 1,869,385 shares of the Internet television network’s stock worth $823,446,000 after acquiring an additional 992,193 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ NFLX traded down $39.72 during trading hours on Friday, hitting $570.84. The company’s stock had a trading volume of 6,672,029 shares, compared to its average volume of 4,320,087. The company’s 50 day simple moving average is $605.77 and its two-hundred day simple moving average is $511.86. The company has a market cap of $247.04 billion, a P/E ratio of 47.41, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. Netflix, Inc. has a 12 month low of $315.62 and a 12 month high of $639.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter in the prior year, the firm posted $2.88 EPS. Netflix’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts expect that Netflix, Inc. will post 17.05 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the sale, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the transaction, the chief executive officer now directly owns 1,278 shares in the company, valued at approximately $717,379.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 268,335 shares of company stock worth $151,619,811. 2.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NFLX shares. Redburn Atlantic boosted their price target on shares of Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Morgan Stanley upped their target price on shares of Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Needham & Company LLC upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $700.00 price target for the company in a research note on Friday. Wells Fargo & Company upped their price objective on shares of Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Robert W. Baird increased their price target on shares of Netflix from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $628.76.

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.