Profit Investment Management LLC Lowers Stake in Netflix, Inc. (NASDAQ:NFLX)

Profit Investment Management LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,583 shares of the Internet television network’s stock after selling 90 shares during the period. Netflix accounts for about 1.8% of Profit Investment Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Profit Investment Management LLC’s holdings in Netflix were worth $2,302,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Netflix during the 3rd quarter valued at $37,000. FSA Wealth Management LLC purchased a new stake in shares of Netflix during the 3rd quarter valued at $38,000. Finally, First Personal Financial Services purchased a new stake in shares of Netflix during the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $842.37 on Friday. The company has a market cap of $360.08 billion, a price-to-earnings ratio of 47.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a 52 week low of $475.26 and a 52 week high of $941.75. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $882.41 and a 200-day moving average of $756.61.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, equities analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

NFLX has been the subject of several analyst reports. Benchmark increased their price objective on Netflix from $555.00 to $720.00 and gave the company a “sell” rating in a report on Friday, January 3rd. Needham & Company LLC raised their target price on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company raised their target price on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Citigroup raised their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Wedbush restated an “outperform” rating and issued a $950.00 target price (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $845.06.

Insider Activity at Netflix

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,198 shares of company stock worth $127,616,898. Company insiders own 1.76% of the company’s stock.

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.