Sage Rhino Capital LLC Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Sage Rhino Capital LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,019 shares of the Internet television network’s stock after selling 21 shares during the period. Sage Rhino Capital LLC’s holdings in Netflix were worth $1,800,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NFLX. Proficio Capital Partners LLC lifted its stake in Netflix by 123,836.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after buying an additional 1,924,423 shares in the last quarter. State Street Corp lifted its stake in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the period. Strategic Financial Concepts LLC lifted its stake in shares of Netflix by 112,896.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after purchasing an additional 381,590 shares during the period. Jennison Associates LLC lifted its stake in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Netflix during the 3rd quarter worth $222,871,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of recent analyst reports. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $715.00 to $900.00 in a research note on Wednesday, January 22nd. BMO Capital Markets reissued an “outperform” rating and set a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Bank of America increased their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Wedbush restated an “outperform” rating and set a $1,150.00 price objective (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $980.56 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $947.72 and its two-hundred day moving average price is $833.29. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The stock has a market capitalization of $419.44 billion, a P/E ratio of 49.45, a P/E/G ratio of 2.12 and a beta of 1.27.

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

Insiders Place Their Bets

In other news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Insiders have sold 255,017 shares of company stock valued at $246,653,898 over the last quarter. 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.