Meyer Handelman Co. Has $2.92 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Meyer Handelman Co. cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,280 shares of the Internet television network’s stock after selling 78 shares during the period. Meyer Handelman Co.’s holdings in Netflix were worth $2,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix in the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Netflix during the third quarter worth approximately $37,000. FSA Wealth Management LLC acquired a new stake in Netflix during the 3rd quarter worth approximately $38,000. Finally, First Personal Financial Services bought a new stake in Netflix in the 3rd quarter valued at $40,000. 80.93% of the stock is owned by institutional investors.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,186 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,817,500. This trade represents a 24.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leslie J. Kilgore sold 358 shares of Netflix stock in a transaction on Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,742 shares of company stock worth $131,030,268 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $828.40 on Wednesday. The business has a 50-day moving average of $881.04 and a 200-day moving average of $755.96. Netflix, Inc. has a 1 year low of $475.26 and a 1 year high of $941.75. The company has a market capitalization of $354.11 billion, a price-to-earnings ratio of 46.88, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Evercore ISI lifted their target price on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. KeyCorp lifted their price target on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. TD Cowen increased their target price on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. BMO Capital Markets boosted their price target on Netflix from $825.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Oppenheimer cut their price objective on shares of Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $845.82.

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.