Meyer Handelman Co. Sells 78 Shares of Netflix, Inc. (NASDAQ:NFLX)

Meyer Handelman Co. reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.3% in the 4th quarter, according to the company in its most recent 13F 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 quarter. Meyer Handelman Co.’s holdings in Netflix were worth $2,924,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. DigitalBridge Group Inc. grew its position in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after buying an additional 9,451 shares in the last quarter. Nordea Investment Management AB lifted its position in Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after buying an additional 29,726 shares in the last quarter. Natixis Advisors LLC increased its holdings in Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after buying an additional 11,921 shares during the period. Finally, M&T Bank Corp increased its stake in Netflix by 4.2% in 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 acquiring an additional 1,684 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Sanford C. Bernstein lifted their price target on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a report on Friday, October 18th. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Saturday, December 21st. Jefferies Financial Group lifted their price objective on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, BMO Capital Markets boosted their price objective on Netflix from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $845.82.

Insider Transactions at Netflix

In related news, Director Leslie J. Kilgore sold 358 shares of Netflix stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,742 shares of company stock valued at $131,030,268 over the last three months. Company insiders own 1.76% of the company’s stock.

Netflix Trading Down 1.4 %

NASDAQ:NFLX opened at $828.40 on Wednesday. The business’s 50-day simple moving average is $881.04 and its 200-day simple moving average is $755.96. Netflix, Inc. has a fifty-two week low of $475.26 and a fifty-two week high of $941.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $354.11 billion, a PE ratio of 46.88, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

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

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.