Kornitzer Capital Management Inc. KS Has $7.26 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Kornitzer Capital Management Inc. KS reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,145 shares of the Internet television network’s stock after selling 454 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Netflix were worth $7,260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its stake in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix during the 3rd quarter worth about $25,000. Newton One Investments LLC bought a new stake in shares of Netflix during the 4th quarter worth about $34,000. Pineridge Advisors LLC boosted 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 worth $37,000 after buying an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC boosted 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 worth $42,000 after buying an additional 16 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on NFLX. Pivotal Research boosted their price objective on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Guggenheim upped their price target on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a research report on Thursday, January 23rd. StockNews.com cut shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group upped their price target on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Stock Down 2.1 %

Netflix stock opened at $1,035.85 on Wednesday. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The firm has a market capitalization of $443.09 billion, a price-to-earnings ratio of 52.24, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. The firm’s fifty day moving average price is $934.75 and its two-hundred day moving average price is $812.56. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

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. 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 firm earned $2.11 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 41,121 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. This represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 303,220 shares of company stock valued at $289,856,164. Corporate insiders own 1.76% of the company’s stock.

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.