Pictet Asset Management Holding SA Sells 60,167 Shares of Netflix, Inc. (NASDAQ:NFLX)

Pictet Asset Management Holding SA reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 594,611 shares of the Internet television network’s stock after selling 60,167 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.14% of Netflix worth $529,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB grew its stake in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after acquiring an additional 156,958 shares in the last quarter. First National Trust Co lifted its stake in shares of Netflix by 1.0% during the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after acquiring an additional 12 shares during the last quarter. Haven Private LLC purchased a new stake in Netflix in the 4th quarter valued at about $733,000. Sigma Planning Corp lifted its holdings in shares of Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after buying an additional 386 shares during the period. Finally, M&T Bank Corp boosted its stake in shares of Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NFLX. KeyCorp boosted their target price on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Argus increased their target price on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Bank of America raised their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Phillip Securities lowered shares of Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Ten 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,021.02.

Netflix Stock Up 0.6 %

NASDAQ NFLX opened at $976.72 on Friday. The stock has a market cap of $417.80 billion, a PE ratio of 49.25, a P/E/G ratio of 2.12 and a beta of 1.38. The business has a 50 day moving average price of $970.22 and a two-hundred day moving average price of $864.96. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.11 EPS. As a group, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction 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 sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Strive Masiyiwa sold 2,813 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,583 shares of company stock worth $279,611,567. 1.76% of the stock is currently owned by corporate 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.