Hartford Investment Management Co. Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Hartford Investment Management Co. cut its holdings in Netflix, Inc. (NASDAQ:NFLXFree Report) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,487 shares of the Internet television network’s stock after selling 799 shares during the quarter. Hartford Investment Management Co.’s holdings in Netflix were worth $14,357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NFLX. Fairfield Bush & CO. boosted its stake in shares of Netflix by 26.5% during the first quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock valued at $916,000 after purchasing an additional 512 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Netflix by 21.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock valued at $179,820,000 after acquiring an additional 84,179 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Netflix by 14.2% in the first quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock valued at $1,094,000 after acquiring an additional 363 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of Netflix by 6.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock valued at $13,610,000 after acquiring an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Netflix by 13.1% in the first quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock valued at $1,426,000 after acquiring an additional 441 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NFLX. Oppenheimer boosted their target price on shares of Netflix from $615.00 to $725.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. Deutsche Bank Aktiengesellschaft downgraded shares of Netflix from a “buy” rating to a “hold” rating and boosted their target price for the stock from $460.00 to $525.00 in a report on Wednesday, January 24th. Robert W. Baird boosted their target price on shares of Netflix from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. UBS Group boosted their target price on shares of Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, DZ Bank upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $600.00 target price for the company in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $583.18.

Get Our Latest Stock Analysis on Netflix

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Netflix news, insider David A. Hyman sold 47,574 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory K. Peters sold 13,655 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,118,342. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by insiders.

Netflix Price Performance

NASDAQ NFLX traded up $13.29 during mid-day trading on Wednesday, hitting $627.50. The stock had a trading volume of 1,305,562 shares, compared to its average volume of 4,423,920. The firm’s 50 day moving average is $591.75 and its 200 day moving average is $493.62. Netflix, Inc. has a twelve month low of $315.62 and a twelve month high of $634.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $271.56 billion, a price-to-earnings ratio of 52.20, a PEG ratio of 1.66 and a beta of 1.22.

Netflix (NASDAQ:NFLXGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a net margin of 16.04% and a return on equity of 24.76%. The firm had revenue of $8.83 billion during the quarter, compared to analyst estimates of $8.72 billion. During the same period in the prior year, the company posted $0.12 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts forecast that Netflix, Inc. will post 17.01 earnings per share for the current fiscal year.

About Netflix

(Free Report)

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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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