Hartford Investment Management Co. Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

Hartford Investment Management Co. decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.2% during the fourth quarter, HoldingsChannel reports. The firm owned 26,414 shares of the Internet television network’s stock after selling 606 shares during the period. Netflix comprises 0.8% of Hartford Investment Management Co.’s portfolio, making the stock its 21st largest holding. Hartford Investment Management Co.’s holdings in Netflix were worth $23,543,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix in the 3rd quarter worth approximately $25,000. Newton One Investments LLC acquired a new position in shares of Netflix during the fourth quarter worth $34,000. Pineridge Advisors LLC lifted its holdings in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares during the last quarter. Princeton Global Asset Management LLC lifted its holdings in shares of Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after purchasing an additional 16 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other news, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 2,682 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. Insiders have sold 303,809 shares of company stock valued at $290,374,484 over the last ninety days. Insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on NFLX shares. Bank of America increased their price target on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Jefferies Financial Group upped their price target on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Needham & Company LLC lifted their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Arete Research upgraded Netflix to a “hold” rating in a research note on Thursday, January 23rd. Finally, Oppenheimer lifted their price target on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,008.08 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $431.22 billion, a PE ratio of 50.84, a PEG ratio of 2.11 and a beta of 1.27. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,032.85. The firm has a fifty day moving average of $919.96 and a 200 day moving average of $795.06.

Netflix (NASDAQ:NFLX) last issued 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. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the company posted $2.11 EPS. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

About Netflix

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.