LGT Fund Management Co Ltd. Trims Stock Position in Netflix, Inc. (NASDAQ:NFLX)

LGT Fund Management Co Ltd. decreased its stake in Netflix, Inc. (NASDAQ:NFLX) by 92.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 317 shares of the Internet television network’s stock after selling 4,086 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Netflix were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB grew its position in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after acquiring an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after acquiring an additional 29,726 shares in the last quarter. Sigma Planning Corp raised its holdings in Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after acquiring an additional 386 shares during the last quarter. Natixis Advisors LLC raised its holdings in Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after acquiring an additional 11,921 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after purchasing an additional 1,684 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Down 0.7 %

Shares of Netflix stock opened at $973.70 on Tuesday. The company has a 50-day moving average of $948.96 and a two-hundred day moving average of $835.48. The stock has a market cap of $416.51 billion, a PE ratio of 49.10, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. 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, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the firm posted $2.11 EPS. On average, research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. This represents a 88.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $986.75, for a total value of $473,640.00. The disclosure for this sale can be found here. Insiders sold a total of 255,017 shares of company stock valued at $246,653,898 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NFLX. Bank of America increased their price target on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Morgan Stanley lifted their price target on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Needham & Company LLC boosted their price target on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Citigroup raised their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a report on Thursday, January 23rd. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

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.