Logan Capital Management Inc. Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Logan Capital Management Inc. lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,220 shares of the Internet television network’s stock after selling 4,688 shares during the period. Netflix comprises about 2.1% of Logan Capital Management Inc.’s portfolio, making the stock its 6th largest holding. Logan Capital Management Inc.’s holdings in Netflix were worth $51,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RMR Wealth Builders grew its stake in shares of Netflix by 4.8% in the fourth quarter. RMR Wealth Builders now owns 4,863 shares of the Internet television network’s stock valued at $4,335,000 after buying an additional 221 shares in the last quarter. Czech National Bank boosted its stake in shares of Netflix by 6.0% during the 4th quarter. Czech National Bank now owns 92,682 shares of the Internet television network’s stock worth $82,609,000 after acquiring an additional 5,257 shares during the period. Aprio Wealth Management LLC grew its position in shares of Netflix by 15.6% in the fourth quarter. Aprio Wealth Management LLC now owns 2,186 shares of the Internet television network’s stock valued at $1,948,000 after purchasing an additional 295 shares during the last quarter. Matrix Trust Co acquired a new stake in Netflix during the 4th quarter worth approximately $162,000. Finally, Fiduciary Alliance LLC acquired a new stake in shares of Netflix during the fourth quarter worth $349,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Netflix stock opened at $1,139.81 on Monday. 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 $587.04 and a fifty-two week high of $1,164.00. The stock has a market cap of $485.07 billion, a price-to-earnings ratio of 57.48, a PEG ratio of 2.12 and a beta of 1.58. The stock’s 50 day simple moving average is $984.97 and its two-hundred day simple moving average is $934.31.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period last year, the business earned $8.28 EPS. As a group, analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In related news, Director Jay C. Hoag sold 32,515 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the sale, the director now owns 79,040 shares in the company, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Cletus R. Willems sold 298 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $35,972,180. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,591 shares of company stock worth $132,515,581. 1.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NFLX. Needham & Company LLC restated a “buy” rating and issued a $1,126.00 price target on shares of Netflix in a research report on Thursday, April 17th. StockNews.com lowered shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Robert W. Baird boosted their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $1,200.00 price objective (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,084.91.

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.