Ferguson Wellman Capital Management Inc. Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Ferguson Wellman Capital Management Inc. trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 759 shares of the Internet television network’s stock after selling 35 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Netflix were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its holdings in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares during the last quarter. Jennison Associates LLC lifted its holdings in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In other Netflix news, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction on 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 4,434 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $1,015.00, for a total value of $4,500,510.00. Following the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $13,144,250. The trade was a 25.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 298,870 shares of company stock valued at $285,287,314. 1.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NFLX shares. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and lifted their target price for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their target price on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Wedbush reiterated an “outperform” rating and set a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Wells Fargo & Company lifted their target price on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Pivotal Research lifted their target price on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Netflix currently 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 $1,027.60 on Tuesday. The business’s 50 day simple moving average is $917.36 and its 200-day simple moving average is $792.29. The firm has a market capitalization of $439.57 billion, a price-to-earnings ratio of 51.82, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,032.85.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS 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 business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the company earned $2.11 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts forecast that Netflix, Inc. will post 24.58 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.