Zevenbergen Capital Investments LLC Sells 14,274 Shares of Netflix, Inc. (NASDAQ:NFLX)

Zevenbergen Capital Investments LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 140,093 shares of the Internet television network’s stock after selling 14,274 shares during the quarter. Netflix comprises approximately 2.5% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 13th largest holding. Zevenbergen Capital Investments LLC’s holdings in Netflix were worth $124,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the 3rd quarter valued at approximately $25,000. Pathway Financial Advisers LLC boosted 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 valued at $27,000 after acquiring an additional 14 shares during the period. Newton One Investments LLC purchased a new position in Netflix during the 4th quarter valued at $34,000. Pineridge Advisors LLC boosted its holdings in Netflix by 4,000.0% during 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 during the period. Finally, FSA Wealth Management LLC purchased a new stake in shares of Netflix in the 3rd quarter worth $38,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In related news, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now directly owns 114 shares of the company’s stock, valued at $101,241.12. This represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 288,103 shares of company stock worth $279,142,041. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NFLX stock opened at $960.29 on Monday. The firm’s 50 day moving average is $959.08 and its 200-day moving average is $859.06. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The firm has a market capitalization of $410.77 billion, a price-to-earnings ratio of 48.43, a PEG ratio of 2.12 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted 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. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the business posted $2.11 earnings per share. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

NFLX has been the subject of several recent research reports. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and boosted their price target for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and upped their target price for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. The Goldman Sachs Group upped their target price on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Bank of America raised their price objective on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $1,016.78.

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.