Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Zullo Investment Group Inc.

Zullo Investment Group Inc. trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,663 shares of the Internet television network’s stock after selling 34 shares during the period. Netflix accounts for about 1.0% of Zullo Investment Group Inc.’s holdings, making the stock its 22nd largest holding. Zullo Investment Group Inc.’s holdings in Netflix were worth $2,374,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NFLX. AMF Tjanstepension AB raised its stake in Netflix by 7.4% during the 3rd quarter. AMF Tjanstepension AB now owns 68,460 shares of the Internet television network’s stock worth $48,557,000 after acquiring an additional 4,701 shares in the last quarter. Swedbank AB grew its holdings in shares of Netflix by 1.8% during the third quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock worth $329,958,000 after purchasing an additional 8,024 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Netflix by 8.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 979 shares of the Internet television network’s stock worth $694,000 after purchasing an additional 75 shares in the last quarter. Ledyard National Bank purchased a new stake in shares of Netflix in the 3rd quarter valued at about $213,000. Finally, Oakworth Capital Inc. boosted its position in shares of Netflix by 13.2% in the 3rd quarter. Oakworth Capital Inc. now owns 137 shares of the Internet television network’s stock valued at $97,000 after purchasing an additional 16 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares of the company’s stock, valued at $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. In the last 90 days, insiders have sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is owned by insiders.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,043.33 on Thursday. 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’s 50-day moving average price is $936.88 and its 200 day moving average price is $814.17. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The stock has a market cap of $446.29 billion, a price-to-earnings ratio of 52.61, a PEG ratio of 2.15 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the business earned $2.11 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on NFLX. The Goldman Sachs Group lifted their price target on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Robert W. Baird upped their price target on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Sanford C. Bernstein upgraded shares of 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 research note on Friday, January 24th. BMO Capital Markets restated an “outperform” rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Pivotal Research upped their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

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.