Lipe & Dalton Trims Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Lipe & Dalton trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 26.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140 shares of the Internet television network’s stock after selling 50 shares during the quarter. Lipe & Dalton’s holdings in Netflix were worth $125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares during the period. Jennison Associates LLC boosted its holdings in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the period. Wellington Management Group LLP boosted its stake in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Netflix by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock valued at $3,178,905,000 after buying an additional 123,987 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 41,121 shares of the business’s 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 sale, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. The trade was a 56.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,220 shares of company stock valued at $289,856,164 over the last quarter. 1.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NFLX has been the subject of several recent analyst reports. StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Needham & Company LLC raised their price target on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Argus lifted their price objective on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. UBS Group boosted their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Loop Capital boosted their price objective on Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Performance

Netflix stock opened at $1,003.15 on Friday. The stock’s 50 day simple moving average is $940.55 and its two-hundred day simple moving average is $818.44. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The stock has a market cap of $429.11 billion, a price-to-earnings ratio of 50.59, a PEG ratio of 2.12 and a beta of 1.27. 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 issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.11 earnings per share. As a group, analysts expect that Netflix, Inc. will post 24.58 earnings per share 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.