Montag & Caldwell LLC Trims Holdings in Netflix, Inc. (NASDAQ:NFLX)

Montag & Caldwell LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 19.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,883 shares of the Internet television network’s stock after selling 3,542 shares during the quarter. Netflix accounts for about 2.8% of Montag & Caldwell LLC’s investment portfolio, making the stock its 15th largest position. Montag & Caldwell LLC’s holdings in Netflix were worth $13,266,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Lafayette Investments Inc. purchased a new stake in Netflix during the 4th quarter valued at approximately $237,000. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in Netflix in the 4th quarter valued at $77,745,000. Canada Post Corp Registered Pension Plan purchased a new stake in Netflix in the 4th quarter worth $6,477,000. Promethos Capital LLC boosted its holdings in shares of Netflix by 3.5% during the 4th quarter. Promethos Capital LLC now owns 7,454 shares of the Internet television network’s stock valued at $6,644,000 after purchasing an additional 250 shares during the last quarter. Finally, Comgest Global Investors S.A.S. bought a new stake in shares of Netflix in the fourth quarter worth about $3,635,000. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the sale, the chairman now owns 394 shares of the company’s stock, valued at $362,933.10. The trade was a 98.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the sale, the chief financial officer now owns 3,691 shares of the company’s stock, valued at $3,402,068.52. This trade represents a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,312 shares of company stock valued at $267,919,297 over the last quarter. 1.76% of the stock is currently owned by insiders.

Netflix Stock Up 1.4 %

Shares of NFLX opened at $931.28 on Tuesday. The stock’s 50 day moving average is $958.50 and its two-hundred day moving average is $887.03. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The firm has a market cap of $398.36 billion, a P/E ratio of 46.96, a PEG ratio of 2.12 and a beta of 1.55. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $2.11 earnings per share. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley raised their price target on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a research report on Thursday, January 23rd. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Finally, Evercore ISI boosted their target price on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,017.31.

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.