Carnegie Investment Counsel Has $1.14 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Carnegie Investment Counsel trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,280 shares of the Internet television network’s stock after selling 111 shares during the quarter. Carnegie Investment Counsel’s holdings in Netflix were worth $1,141,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix during the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in Netflix by 700.0% during the third 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 in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Netflix during the third quarter worth $37,000. FSA Wealth Management LLC acquired a new stake in shares of Netflix in the 3rd quarter valued at $38,000. Finally, First Personal Financial Services acquired a new position in shares of Netflix during the 3rd quarter worth $40,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Hyman sold 267 shares of the company’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 transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,198 shares of company stock valued at $127,616,898. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NFLX. Jefferies Financial Group boosted their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. TD Cowen raised their target price on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Loop Capital lowered their price target on shares of Netflix from $950.00 to $925.00 and set a “hold” rating for the company in a report on Thursday. UBS Group raised their price objective on Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Guggenheim upped their target price on Netflix from $825.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $845.06.

Netflix Stock Up 1.9 %

Shares of NASDAQ:NFLX opened at $858.10 on Friday. The firm has a market cap of $366.80 billion, a P/E ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a 52-week low of $476.06 and a 52-week high of $941.75. The business’s 50 day simple moving average is $884.58 and its two-hundred day simple moving average is $758.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. As a group, research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

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.