Shell Asset Management Co. Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Shell Asset Management Co. cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,881 shares of the Internet television network’s stock after selling 35 shares during the quarter. Shell Asset Management Co.’s holdings in Netflix were worth $9,698,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. West Michigan Advisors LLC increased its position in shares of Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after purchasing an additional 10 shares in the last quarter. Warwick Investment Management Inc. grew its holdings in Netflix by 3.5% in the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock valued at $266,000 after buying an additional 10 shares in the last quarter. MRP Capital Investments LLC grew its holdings in Netflix by 1.0% in the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after buying an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC grew its holdings in Netflix by 2.2% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock valued at $412,000 after buying an additional 10 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. grew its holdings in Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock valued at $3,410,000 after buying an additional 10 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on NFLX shares. Oppenheimer restated an “outperform” rating and issued a $1,200.00 target price (up from $1,150.00) on shares of Netflix in a report on Friday, April 18th. BMO Capital Markets reiterated an “outperform” rating and set a $1,200.00 price target (up from $1,175.00) on shares of Netflix in a report on Friday, April 18th. KeyCorp increased their price target on Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Guggenheim reiterated a “buy” rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, Macquarie increased their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,084.91.

Netflix Trading Up 2.3%

NFLX opened at $1,177.98 on Friday. The firm has a market cap of $501.31 billion, a price-to-earnings ratio of 59.40, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,187.80. The business’s 50 day moving average is $1,003.42 and its two-hundred day moving average is $942.62. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Monday, March 3rd. The stock was 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 approximately $3,624,746.55. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,360 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the sale, the chairman now directly owns 394 shares in the company, valued at $362,933.10. This trade represents a 98.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 132,868 shares of company stock valued at $138,483,256. Corporate 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.