Norden Group LLC Sells 244 Shares of Netflix, Inc. (NASDAQ:NFLX)

Norden Group LLC lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,317 shares of the Internet television network’s stock after selling 244 shares during the period. Netflix makes up about 0.9% of Norden Group LLC’s investment portfolio, making the stock its 17th largest holding. Norden Group LLC’s holdings in Netflix were worth $8,304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. West Michigan Advisors LLC increased its position in Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock valued at $692,000 after buying an additional 10 shares in the last quarter. Enzi Wealth increased its holdings in shares of Netflix by 3.4% in the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock worth $316,000 after purchasing an additional 11 shares in the last quarter. TCI Wealth Advisors Inc. increased its holdings in shares of Netflix by 1.6% in the 4th quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock worth $624,000 after purchasing an additional 11 shares in the last quarter. Blossom Wealth Management increased its holdings in shares of Netflix by 0.9% in the 4th quarter. Blossom Wealth Management now owns 1,248 shares of the Internet television network’s stock worth $1,112,000 after purchasing an additional 11 shares in the last quarter. Finally, Everett Harris & Co. CA increased its holdings in shares of Netflix by 1.3% in the 4th quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock worth $775,000 after purchasing an additional 11 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In other news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix 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 have sold 303,380 shares of company stock worth $290,016,164 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of Netflix stock opened at $980.56 on Friday. The stock’s 50-day simple moving average is $947.72 and its 200-day simple moving average is $832.09. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The company has a market capitalization of $419.44 billion, a price-to-earnings ratio of 49.45, a PEG ratio of 2.12 and a beta of 1.27. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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 return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the business earned $2.11 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. As a group, analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on NFLX. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Bank of America lifted their target price on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. StockNews.com lowered Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.