Lewis Asset Management LLC Cuts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Lewis Asset Management LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 285 shares of the Internet television network’s stock after selling 32 shares during the quarter. Lewis Asset Management LLC’s holdings in Netflix were worth $254,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 41,601 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $64,435.10. The trade was a 99.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Theodore A. Sarandos sold 1,278 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the sale, the chief executive officer now directly owns 2,556 shares in the company, valued at $1,960,579.80. This represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,117 shares of company stock valued at $123,913,691 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Netflix Trading Up 0.7 %

NFLX opened at $978.94 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $418.46 billion, a P/E ratio of 49.37, a P/E/G ratio of 1.53 and a beta of 1.27. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $999.00. The business has a fifty day simple moving average of $899.64 and a 200-day simple moving average of $772.71.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.11 EPS. On average, equities analysts expect that Netflix, Inc. will post 23.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Oppenheimer boosted their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Robert W. Baird boosted their price objective on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company raised their target price on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Wedbush reiterated an “outperform” rating and set a $1,150.00 price target (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a research note on Thursday, January 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,021.70.

About Netflix

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.