Summit Financial LLC Sells 899 Shares of Netflix, Inc. (NASDAQ:NFLX)

Summit Financial LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,885 shares of the Internet television network’s stock after selling 899 shares during the quarter. Netflix accounts for 0.6% of Summit Financial LLC’s portfolio, making the stock its 27th largest position. Summit Financial LLC’s holdings in Netflix were worth $16,833,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC grew its stake in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the period. Newton One Investments LLC bought a new position in shares of Netflix during the 4th quarter valued at about $34,000. Pineridge Advisors LLC grew its position in shares of Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Netflix in the 3rd quarter valued at approximately $38,000. Finally, Princeton Global Asset Management LLC increased its stake in Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Down 4.4 %

Shares of Netflix stock opened at $933.85 on Monday. 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 firm has a 50-day moving average of $971.74 and a 200-day moving average of $869.42. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The stock has a market cap of $399.46 billion, a PE ratio of 47.09, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the business posted $2.11 EPS. The business’s revenue 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 year.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,939 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the sale, the chief executive officer now owns 12,950 shares in the company, valued at $13,338,500. The trade was a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 288,583 shares of company stock worth $279,611,567 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Evercore ISI upped their target price on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Citigroup lifted their price target on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. upped their price objective on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and boosted their target price for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.02.

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.