Bowen Hanes & Co. Inc. Sells 1,550 Shares of Netflix, Inc. (NASDAQ:NFLX)

Bowen Hanes & Co. Inc. decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,045 shares of the Internet television network’s stock after selling 1,550 shares during the quarter. Netflix comprises approximately 3.1% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 4th largest position. Bowen Hanes & Co. Inc.’s holdings in Netflix were worth $115,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC grew its position in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix in the 3rd quarter valued at approximately $25,000. Newton One Investments LLC acquired a new position in Netflix during the fourth quarter worth $34,000. Pineridge Advisors LLC increased its position in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC increased its holdings in shares of Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Macquarie lifted their price target on Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Bank of America increased their price target on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Wedbush reissued an “outperform” rating and issued a $1,150.00 target price (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Evercore ISI upped their price target on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,014.26.

Insiders Place Their Bets

In related news, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. 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 company’s stock in a transaction on 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 transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is owned by company insiders.

Netflix Price Performance

NASDAQ:NFLX opened at $919.68 on Thursday. The firm has a market capitalization of $393.40 billion, a price-to-earnings ratio of 46.38, a PEG ratio of 2.12 and a beta of 1.38. The business has a 50 day simple moving average of $950.23 and a 200-day simple moving average of $845.78. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (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 company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the company posted $2.11 earnings per share. Netflix’s revenue was up 16.0% compared to the same quarter last year. Equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix 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.