Netflix, Inc. (NASDAQ:NFLX) is Summit Place Financial Advisors LLC’s 5th Largest Position

Summit Place Financial Advisors LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 7.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,744 shares of the Internet television network’s stock after selling 387 shares during the quarter. Netflix comprises about 2.4% of Summit Place Financial Advisors LLC’s investment portfolio, making the stock its 5th biggest position. Summit Place Financial Advisors LLC’s holdings in Netflix were worth $4,228,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NFLX. International Assets Investment Management LLC lifted its position in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares in the last quarter. State Street Corp lifted its position in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Netflix by 112,896.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after purchasing an additional 381,590 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NFLX. StockNews.com cut shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. increased their price target on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Guggenheim upped their target price on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Argus upped their target price on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,035.85 on Wednesday. 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 stock has a fifty day moving average price of $934.75 and a 200 day moving average price of $812.56. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company has a market cap of $443.10 billion, a PE ratio of 52.24, a P/E/G ratio of 2.19 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share 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 firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the company earned $2.11 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 685 shares of Netflix stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $1,009.57, for a total transaction of $691,555.45. Following the completion of the transaction, the chief financial officer now owns 3,691 shares of the company’s stock, valued at $3,726,322.87. The trade was a 15.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the transaction, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at $13,338,500. This trade represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,220 shares of company stock valued at $289,856,164. 1.76% of the stock is owned by company insiders.

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.