Hilltop Partners LLC Lowers Stake in Netflix, Inc. (NASDAQ:NFLX)

Hilltop Partners LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 533 shares of the Internet television network’s stock after selling 16 shares during the period. Hilltop Partners LLC’s holdings in Netflix were worth $475,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix during the third quarter worth $25,000. Pathway Financial Advisers LLC raised its position 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. E Fund Management Hong Kong Co. Ltd. raised its position in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC acquired a new stake in shares of Netflix in the 4th quarter worth $34,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Netflix in the third quarter valued at about $37,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NFLX. The Goldman Sachs Group increased their target price on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and raised their target price for the company from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. UBS Group boosted their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Ten investment 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the sale, the insider now owns 31,610 shares in the company, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. Insiders have sold 303,380 shares of company stock worth $290,016,164 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

NASDAQ:NFLX opened at $963.07 on Friday. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The company has a market cap of $411.96 billion, a P/E ratio of 48.57, a P/E/G ratio of 2.12 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s 50-day simple moving average is $946.29 and its 200 day simple moving average is $828.40.

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