Sitrin Capital Management LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 26,785 shares of the Internet television network’s stock after selling 370 shares during the period. Netflix makes up approximately 3.2% of Sitrin Capital Management LLC’s holdings, making the stock its 13th largest holding. Sitrin Capital Management LLC’s holdings in Netflix were worth $5,142,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in NFLX. Ark Investment Management LLC boosted its stake in Netflix by 37.4% in the 2nd quarter. Ark Investment Management LLC now owns 62,715 shares of the Internet television network’s stock worth $9,370,000 after purchasing an additional 17,064 shares during the period. Macquarie Group Ltd. boosted its stake in Netflix by 2.2% in the 2nd quarter. Macquarie Group Ltd. now owns 40,258 shares of the Internet television network’s stock worth $6,015,000 after purchasing an additional 882 shares during the period. Sterling Capital Management LLC bought a new position in Netflix in the 2nd quarter worth approximately $254,000. WINTON GROUP Ltd bought a new position in Netflix in the 2nd quarter worth approximately $787,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Netflix in the 2nd quarter worth approximately $445,000. Institutional investors own 82.38% of the company’s stock.
Several research analysts have weighed in on NFLX shares. Morgan Stanley restated an “overweight” rating and issued a $255.00 price target (up from $235.00) on shares of Netflix in a research note on Thursday, January 18th. SunTrust Banks set a $270.00 target price on Netflix and gave the company a “hold” rating in a research report on Wednesday. Loop Capital reiterated a “buy” rating and set a $237.00 target price on shares of Netflix in a research report on Wednesday, December 6th. Canaccord Genuity reiterated a “buy” rating and set a $280.00 target price (up from $225.00) on shares of Netflix in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $250.00 target price (up from $230.00) on shares of Netflix in a research report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company. Netflix presently has an average rating of “Buy” and a consensus target price of $239.39.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, January 22nd. The Internet television network reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. Netflix had a return on equity of 17.20% and a net margin of 4.78%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the firm posted $0.15 earnings per share. The business’s revenue was up 32.6% compared to the same quarter last year. sell-side analysts expect that Netflix, Inc. will post 2.69 EPS for the current year.
In other news, insider Jonathan Friedland sold 2,743 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $205.59, for a total transaction of $563,933.37. Following the transaction, the insider now owns 1,147 shares in the company, valued at $235,811.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director A George Battle sold 10,716 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $258.49, for a total value of $2,769,978.84. Following the transaction, the director now owns 2,575 shares in the company, valued at approximately $665,611.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 469,901 shares of company stock worth $107,797,603. Insiders own 4.90% of the company’s stock.
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Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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