Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Trims Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 22.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,585 shares of the Internet television network’s stock after selling 455 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Netflix were worth $772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NFLX. Authentikos Wealth Advisory LLC purchased a new stake in Netflix in the third quarter valued at $25,000. Spartan Planning & Wealth Management purchased a new stake in shares of Netflix in the third quarter valued at about $26,000. Carmel Capital Partners LLC raised its holdings in shares of Netflix by 290.0% in the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after buying an additional 58 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in shares of Netflix by 89.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock valued at $36,000 after buying an additional 35 shares during the last quarter. Finally, Pacifica Partners Inc. purchased a new stake in shares of Netflix in the fourth quarter valued at about $41,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Up 3.8 %

Shares of NFLX traded up $20.82 on Tuesday, hitting $575.42. 2,898,091 shares of the stock traded hands, compared to its average volume of 4,489,063. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $247.95 billion, a P/E ratio of 39.42, a P/E/G ratio of 1.49 and a beta of 1.22. The stock’s 50 day moving average is $605.58 and its two-hundred day moving average is $516.27. Netflix, Inc. has a 1 year low of $315.62 and a 1 year high of $639.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.88 earnings per share. As a group, sell-side analysts predict that Netflix, Inc. will post 17.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NFLX. DZ Bank raised shares of Netflix from a “hold” rating to a “buy” rating and set a $600.00 target price for the company in a report on Thursday, January 25th. Bank of America upped their target price on shares of Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company upped their target price on shares of Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a report on Friday. The Goldman Sachs Group increased their price target on shares of Netflix from $500.00 to $565.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, Barclays increased their price target on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $630.58.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock valued at $151,619,811 over the last quarter. Company insiders own 2.45% of the company’s stock.

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.