First Foundation Advisors Trims Holdings in Netflix, Inc. (NASDAQ:NFLX)

First Foundation Advisors lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 558 shares of the Internet television network’s stock after selling 29 shares during the period. First Foundation Advisors’ holdings in Netflix were worth $497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NFLX. FRG Family Wealth Advisors LLC purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $214,000. Andrew Hill Investment Advisors Inc. raised its position in Netflix by 131.3% in the fourth quarter. Andrew Hill Investment Advisors Inc. now owns 6,147 shares of the Internet television network’s stock valued at $5,479,000 after purchasing an additional 3,489 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of Netflix by 1.1% in the 4th quarter. Treasurer of the State of North Carolina now owns 203,215 shares of the Internet television network’s stock valued at $181,130,000 after purchasing an additional 2,118 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Netflix by 5.1% during the 4th quarter. Neuberger Berman Group LLC now owns 484,912 shares of the Internet television network’s stock worth $432,212,000 after purchasing an additional 23,710 shares during the period. Finally, Redwood Park Advisors LLC acquired a new stake in shares of Netflix during the 4th quarter worth about $66,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NFLX has been the subject of several research analyst reports. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price for the company in a research note on Thursday, January 23rd. Wedbush reaffirmed an “outperform” rating and set a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Pivotal Research upped their price target on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Guggenheim reiterated a “buy” rating and issued a $1,100.00 price objective on shares of Netflix in a report on Thursday, April 3rd. Finally, Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and lifted their target price for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,017.31.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 41,121 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $30,946,506.10. The trade was a 56.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jay C. Hoag sold 617 shares of Netflix stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. Insiders have sold a total of 274,312 shares of company stock worth $267,919,297 in the last three months. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $921.17 on Friday. 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, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The firm has a 50-day simple moving average of $961.62 and a 200-day simple moving average of $882.89. The company has a market capitalization of $394.04 billion, a price-to-earnings ratio of 46.45, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the firm earned $2.11 EPS. On average, equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.