Norden Group LLC Has $3.52 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Norden Group LLC decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 46.9% during the 4th quarter, HoldingsChannel reports. The firm owned 7,222 shares of the Internet television network’s stock after selling 6,384 shares during the quarter. Netflix comprises approximately 0.6% of Norden Group LLC’s holdings, making the stock its 13th largest position. Norden Group LLC’s holdings in Netflix were worth $3,516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NFLX. Columbia Trust Co 01012016 boosted its position in Netflix by 15.3% in the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after buying an additional 208 shares in the last quarter. Crumly & Associates Inc. increased its holdings in Netflix by 4.1% in the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after purchasing an additional 83 shares in the last quarter. Venture Visionary Partners LLC raised its position in Netflix by 15.4% in the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after purchasing an additional 1,318 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Netflix by 142.6% during the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after purchasing an additional 392,427 shares in the last quarter. Finally, Sandy Cove Advisors LLC grew its holdings in shares of Netflix by 10.6% during the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after purchasing an additional 114 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NFLX. KeyCorp raised their price objective on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a report on Monday, February 26th. JPMorgan Chase & Co. increased their price objective on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Morgan Stanley raised their target price on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Macquarie upped their price target on Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $630.58.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $566.35, for a total value of $723,795.30. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $7,413,521.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,573 shares of company stock worth $89,548,241. 1.76% of the stock is owned by company insiders.

Netflix Stock Down 1.0 %

NASDAQ NFLX traded down $5.78 during trading hours on Tuesday, hitting $553.71. The company’s stock had a trading volume of 1,465,549 shares, compared to its average volume of 4,454,736. The company has a market capitalization of $238.59 billion, a PE ratio of 38.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 52 week low of $315.62 and a 52 week high of $639.00. The company’s 50-day simple moving average is $604.05 and its two-hundred day simple moving average is $522.96.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same period in the previous year, the firm earned $2.88 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts anticipate that Netflix, Inc. will post 18.13 EPS for the current fiscal year.

About Netflix

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.