Price T Rowe Associates Inc. MD Trims Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Price T Rowe Associates Inc. MD lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.4% during the fourth quarter, Holdings Channel reports. The fund owned 11,427,667 shares of the Internet television network’s stock after selling 406,408 shares during the quarter. Netflix comprises 1.2% of Price T Rowe Associates Inc. MD’s portfolio, making the stock its 13th biggest holding. Price T Rowe Associates Inc. MD’s holdings in Netflix were worth $10,185,708,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NFLX. Pathway Financial Advisers LLC increased 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 purchasing an additional 14 shares during the last quarter. Transce3nd LLC acquired a new stake in shares of Netflix in the 4th quarter valued at about $32,000. Newton One Investments LLC acquired a new stake in Netflix during the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC lifted its stake in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares during the last quarter. Finally, Princeton Global Asset Management LLC boosted its holdings 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 buying an additional 16 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on NFLX shares. Bank of America upped their price objective on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. UBS Group dropped their target price on shares of Netflix from $1,150.00 to $1,140.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. 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. Needham & Company LLC restated a “buy” rating and set a $1,126.00 price objective on shares of Netflix in a research report on Thursday, April 17th. Finally, Pivotal Research reissued a “buy” rating and set a $1,350.00 target price (up previously from $1,250.00) on shares of Netflix in a research note on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $1,070.65.

Netflix Trading Up 5.3 %

Shares of NFLX opened at $1,040.34 on Wednesday. The stock’s fifty day simple moving average is $954.01 and its 200-day simple moving average is $897.26. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $445.01 billion, a PE ratio of 52.46, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a 12-month low of $544.25 and a 12-month high of $1,064.97.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for 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 quarter last year, the firm earned $8.28 EPS. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 274,472 shares of company stock valued at $268,079,297. Company 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.