Hemington Wealth Management Sells 26 Shares of Netflix, Inc. (NASDAQ:NFLX)

Hemington Wealth Management reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 521 shares of the Internet television network’s stock after selling 26 shares during the quarter. Hemington Wealth Management’s holdings in Netflix were worth $464,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC boosted its stake in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after acquiring an additional 123,029 shares in the last quarter. Jennison Associates LLC boosted its stake in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NFLX shares. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and increased their target price for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Morgan Stanley raised their price objective on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group raised their price objective on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Insider Buying and Selling at Netflix

In other Netflix news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 303,809 shares of company stock worth $290,374,484 over the last three months. 1.76% of the stock is owned by insiders.

Netflix Price Performance

NFLX stock opened at $1,027.31 on Thursday. The firm has a 50 day moving average of $922.08 and a 200-day moving average of $797.72. 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, Inc. has a 12 month low of $542.01 and a 12 month high of $1,032.85. The firm has a market capitalization of $439.44 billion, a P/E ratio of 51.81, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the business earned $2.11 earnings per share. Netflix’s revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.