Gryphon Financial Partners LLC Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Gryphon Financial Partners LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 38.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,821 shares of the Internet television network’s stock after selling 1,122 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Netflix were worth $1,623,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. State Street Corp grew its position in shares of Netflix by 2.6% in 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 buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC lifted its stake in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after acquiring an additional 123,029 shares during the period. Jennison Associates LLC boosted its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. Wellington Management Group LLP increased its position in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Netflix by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock worth $4,035,404,000 after purchasing an additional 45,507 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NFLX shares. Arete Research raised shares of Netflix to a “hold” rating in a research note on Thursday, January 23rd. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Needham & Company LLC increased their target price on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target on the stock in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. raised their price objective on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 4,939 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. This represents a 27.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction that occurred 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. This represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 255,017 shares of company stock valued at $246,653,898. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX opened at $980.56 on Monday. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The business has a fifty day moving average of $947.72 and a 200 day moving average of $833.29. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $419.44 billion, a P/E ratio of 49.45, a PEG ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released 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 firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the firm earned $2.11 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current 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.