Schneider Downs Wealth Management Advisors LP Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Schneider Downs Wealth Management Advisors LP lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 627 shares of the Internet television network’s stock after selling 50 shares during the quarter. Schneider Downs Wealth Management Advisors LP’s holdings in Netflix were worth $559,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NFLX. State Street Corp increased its holdings in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC increased its holdings in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after acquiring an additional 123,029 shares in the last quarter. Jennison Associates LLC increased its holdings in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. Wellington Management Group LLP increased its holdings in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after acquiring an additional 23,702 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Netflix by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock valued at $3,178,905,000 after acquiring an additional 123,987 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In related news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,220 shares of company stock valued at $289,856,164. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Up 1.3 %

Shares of NASDAQ:NFLX opened at $990.06 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. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a fifty day simple moving average of $945.07 and a 200 day simple moving average of $827.46. The firm has a market cap of $423.51 billion, a PE ratio of 49.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released 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. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the firm earned $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NFLX. Evercore ISI raised their target price on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Guggenheim lifted their price target on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Oppenheimer lifted their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, Pivotal Research lifted their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

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.