Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 130,045 shares of the Internet television network’s stock after selling 1,550 shares during the quarter. Netflix makes up approximately 3.1% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 4th biggest holding. Bowen Hanes & Co. Inc.’s holdings in Netflix were worth $115,912,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pathway Financial Advisers LLC lifted its holdings in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix during the 3rd quarter valued at approximately $25,000. Newton One Investments LLC bought a new position in Netflix during the fourth quarter worth $34,000. Pineridge Advisors LLC boosted its holdings in Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC increased its stake in Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 2.7 %

NASDAQ:NFLX opened at $919.68 on Thursday. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The stock has a fifty day simple moving average of $950.23 and a 200 day simple moving average of $845.78. The firm has a market capitalization of $393.40 billion, a price-to-earnings ratio of 46.38, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the transaction, the chairman now directly owns 114 shares in the company, valued at $101,241.12. The trade was a 99.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 246 shares of the company’s stock, valued at $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock valued at $279,142,041 over the last quarter. Company insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NFLX. Robert W. Baird lifted their price target 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. Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. UBS Group reiterated a “buy” rating on shares of Netflix in a research report on Monday. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,014.26.

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.