Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Formidable Asset Management LLC

Formidable Asset Management LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,498 shares of the Internet television network’s stock after selling 37 shares during the quarter. Formidable Asset Management LLC’s holdings in Netflix were worth $1,335,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in shares of Netflix by 8.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network’s stock worth $1,227,468,000 after purchasing an additional 110,432 shares during the period. PharVision Advisers LLC acquired a new stake in shares of Netflix during the fourth quarter worth $873,000. First National Trust Co lifted its holdings in shares of Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after purchasing an additional 12 shares during the period. Haven Private LLC acquired a new stake in shares of Netflix during the fourth quarter worth $733,000. Finally, Sigma Planning Corp lifted its holdings in shares of Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after purchasing an additional 386 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Netflix

In other Netflix news, Director Bradford L. Smith sold 3,919 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the transaction, the director now directly owns 7,969 shares of the company’s stock, valued at $8,959,227.94. This represents a 32.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction dated Wednesday, February 26th. 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. Over the last ninety days, insiders have sold 132,868 shares of company stock valued at $138,483,256. Company insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of several recent research reports. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. Rosenblatt Securities raised their target price on Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a report on Monday, April 21st. KeyCorp raised their target price on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Canaccord Genuity Group raised their target price on Netflix from $1,200.00 to $1,380.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Citigroup reissued a “neutral” rating on shares of Netflix in a report on Monday, May 5th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $1,102.79.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,185.39 on Friday. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,211.22. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $504.47 billion, a price-to-earnings ratio of 59.78, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The business has a 50 day simple moving average of $1,036.22 and a 200-day simple moving average of $960.54.

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

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.