Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Pine Haven Investment Counsel Inc

Pine Haven Investment Counsel Inc cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.8% in the 4th quarter, Holdings Channel reports. The fund owned 877 shares of the Internet television network’s stock after selling 25 shares during the quarter. Pine Haven Investment Counsel Inc’s holdings in Netflix were worth $782,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the third quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the period. Decker Retirement Planning Inc. purchased a new position in Netflix during the 4th quarter worth $43,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Netflix in the 3rd quarter worth $37,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Netflix in the third quarter valued at about $38,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the company’s 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 completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders have sold 152,198 shares of company stock worth $127,616,898 over the last quarter. 1.76% of the stock is currently owned by insiders.

Netflix Price Performance

Netflix stock opened at $858.10 on Monday. The firm’s 50-day moving average is $884.58 and its two-hundred day moving average is $759.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $366.80 billion, a P/E ratio of 48.56, a P/E/G ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a 12-month low of $476.06 and a 12-month high of $941.75.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Equities analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NFLX. Wedbush reissued an “outperform” rating and set a $950.00 price target (up from $800.00) on shares of Netflix in a report on Monday, November 18th. Canaccord Genuity Group increased their target price on Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. UBS Group raised their price target on Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Evercore ISI upped their price objective on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Finally, Bank of America raised their target price on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $845.06.

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.