Mattern Capital Management LLC Sells 36 Shares of Netflix, Inc. (NASDAQ:NFLX)

Mattern Capital Management LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,170 shares of the Internet television network’s stock after selling 36 shares during the quarter. Mattern Capital Management LLC’s holdings in Netflix were worth $1,043,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its holdings in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix in the 3rd quarter valued at $25,000. Newton One Investments LLC bought a new stake in shares of Netflix in the 4th quarter valued at $34,000. Pineridge Advisors LLC increased its stake in shares of 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 acquiring an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC increased its stake in shares of Netflix by 51.6% in the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after acquiring an additional 16 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other news, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 303,220 shares of company stock worth $289,856,164 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NFLX. Bank of America lifted their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Needham & Company LLC lifted their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group lifted their price objective on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Trading Down 1.8 %

NASDAQ NFLX opened at $1,024.54 on Friday. The stock has a market capitalization of $438.26 billion, a price-to-earnings ratio of 51.67, a PEG ratio of 2.15 and a beta of 1.27. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The business’s fifty day moving average is $938.86 and its 200-day moving average is $815.63.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for 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 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 business posted $2.11 EPS. Equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current 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.