Patten Group Inc. Grows Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Patten Group Inc. raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 901 shares of the Internet television network’s stock after buying an additional 44 shares during the period. Patten Group Inc.’s holdings in Netflix were worth $803,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Swedbank AB increased 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 valued at $329,958,000 after acquiring an additional 8,024 shares in the last quarter. Moloney Securities Asset Management LLC acquired a new position in shares of Netflix during the third quarter valued at about $777,000. United Advisor Group LLC increased its holdings in shares of Netflix by 23.0% during the third quarter. United Advisor Group LLC now owns 839 shares of the Internet television network’s stock valued at $595,000 after acquiring an additional 157 shares in the last quarter. Geneva Partners LLC acquired a new position in shares of Netflix during the third quarter valued at about $3,704,000. Finally, Pittenger & Anderson Inc. increased its holdings in shares of Netflix by 30.5% during the third quarter. Pittenger & Anderson Inc. now owns 2,314 shares of the Internet television network’s stock valued at $1,641,000 after acquiring an additional 541 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were 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. In the last 90 days, insiders have sold 288,103 shares of company stock worth $279,142,041. Corporate insiders own 1.76% of the company’s stock.

Netflix Trading Down 0.1 %

Shares of NASDAQ:NFLX opened at $972.58 on Wednesday. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The firm has a market capitalization of $416.03 billion, a price-to-earnings ratio of 49.05, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The business’s 50 day moving average price is $949.77 and its 200-day moving average price is $837.58.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NFLX. Robert W. Baird upped their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Wedbush restated an “outperform” rating and set a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and upped their price objective for the company from $940.00 to $1,150.00 in a 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 report on Friday, January 24th. Finally, Bank of America increased their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Netflix presently has an average 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.