Cottage Street Advisors LLC Sells 122 Shares of Netflix, Inc. (NASDAQ:NFLX)

Cottage Street Advisors LLC lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 22.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 425 shares of the Internet television network’s stock after selling 122 shares during the period. Cottage Street Advisors LLC’s holdings in Netflix were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB boosted its holdings in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares during the period. First National Trust Co lifted its position in Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after acquiring an additional 12 shares during the last quarter. Haven Private LLC bought a new stake in shares of Netflix during the fourth quarter worth approximately $733,000. Sigma Planning Corp increased its stake in shares of Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after purchasing an additional 386 shares during the period. Finally, M&T Bank Corp grew its stake in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after acquiring an additional 1,684 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Up 2.6 %

NFLX opened at $997.28 on Wednesday. The company has a 50 day moving average of $965.09 and a 200 day moving average of $863.43. 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 market cap of $426.59 billion, a PE ratio of 50.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last announced its quarterly 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 return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the business earned $2.11 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and issued a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Arete Research raised shares of Netflix to a “hold” rating in a research report on Thursday, January 23rd. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, KeyCorp boosted their target price on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,016.78.

Insider Transactions at Netflix

In other news, Director Ann Mather sold 2,682 shares of Netflix 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is currently owned by corporate insiders.

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.