Adell Harriman & Carpenter Inc. Sells 59 Shares of Netflix, Inc. (NASDAQ:NFLX)

Adell Harriman & Carpenter Inc. cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,422 shares of the Internet television network’s stock after selling 59 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Netflix were worth $1,268,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Roman Butler Fullerton & Co. grew its holdings in shares of Netflix by 269.7% during the fourth quarter. Roman Butler Fullerton & Co. now owns 3,804 shares of the Internet television network’s stock worth $3,697,000 after buying an additional 2,775 shares in the last quarter. Kanawha Capital Management LLC bought a new position in Netflix in the fourth quarter valued at approximately $240,000. Campbell Wealth Management bought a new position in Netflix in the fourth quarter valued at approximately $450,000. Asset Planning Inc bought a new position in Netflix in the fourth quarter valued at approximately $1,923,000. Finally, White Pine Capital LLC grew its stake in Netflix by 3.5% in the fourth quarter. White Pine Capital LLC now owns 560 shares of the Internet television network’s stock valued at $499,000 after purchasing an additional 19 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NFLX. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. KeyCorp raised their price target on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group raised their price target on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and raised their price target for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Finally, Bank of America lifted their target price on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Ten research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Insider Activity

In other news, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 303,809 shares of company stock worth $290,374,484. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,058.60 on Friday. The stock has a market capitalization of $452.83 billion, a PE ratio of 53.38, a P/E/G 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. The business has a fifty day moving average price of $926.92 and a two-hundred day moving average price of $801.02. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the firm earned $2.11 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix 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.