Artisan Partners Limited Partnership Sells 98,930 Shares of Netflix, Inc. (NASDAQ:NFLX)

Artisan Partners Limited Partnership reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 7.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,292,617 shares of the Internet television network’s stock after selling 98,930 shares during the quarter. Netflix makes up 1.7% of Artisan Partners Limited Partnership’s portfolio, making the stock its 10th biggest position. Artisan Partners Limited Partnership’s holdings in Netflix were worth $1,152,135,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new position in Netflix during the 3rd quarter valued at about $25,000. Pathway Financial Advisers LLC increased its holdings in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the period. Newton One Investments LLC acquired a new stake in Netflix in the fourth quarter worth about $34,000. Pineridge Advisors LLC grew its position in Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after buying an additional 40 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Netflix during the 3rd quarter valued at about $38,000. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NASDAQ NFLX opened at $970.65 on Thursday. The stock has a market capitalization of $415.20 billion, a PE ratio of 48.95, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The stock has a 50-day simple moving average of $967.54 and a 200 day simple moving average of $864.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data 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 return on equity of 38.32% and a net margin of 22.34%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.11 earnings per share. Research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 246 shares in the company, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. This represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,583 shares of company stock worth $279,611,567 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Arete Research raised Netflix to a “hold” rating in a research note on Thursday, January 23rd. KeyCorp upped their price objective on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Phillip Securities lowered Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $1,175.00 price target (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $1,016.78.

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.