Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Vestcor Inc

Vestcor Inc lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,962 shares of the Internet television network’s stock after selling 346 shares during the quarter. Vestcor Inc’s holdings in Netflix were worth $7,097,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in Netflix during the third quarter worth approximately $25,000. Pathway Financial Advisers LLC boosted its position in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares during the last quarter. Newton One Investments LLC acquired a new stake in Netflix during the fourth quarter worth approximately $34,000. MidAtlantic Capital Management Inc. acquired a new stake in Netflix during the third quarter worth approximately $37,000. Finally, Pineridge Advisors LLC boosted its holdings 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 purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

NFLX opened at $919.68 on Thursday. The company has a 50-day moving average of $950.23 and a 200-day moving average of $845.78. The company has a market capitalization of $393.40 billion, a P/E ratio of 46.38, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. 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 released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.11 EPS. Equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on NFLX. Oppenheimer lifted their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Sanford C. Bernstein upgraded shares of 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 report on Friday, January 24th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and lifted their price target for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Finally, Phillip Securities lowered shares of Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Ten 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,014.26.

Insider Activity

In other news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at $3,624,746.55. This trade represents a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 288,103 shares of company stock valued at $279,142,041. Company insiders own 1.76% of the company’s stock.

Netflix 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.