Greatmark Investment Partners Inc. Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Greatmark Investment Partners Inc. decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.7% during the fourth quarter, HoldingsChannel reports. The firm owned 36,089 shares of the Internet television network’s stock after selling 1,789 shares during the period. Netflix makes up approximately 2.8% of Greatmark Investment Partners Inc.’s holdings, making the stock its 12th biggest holding. Greatmark Investment Partners Inc.’s holdings in Netflix were worth $17,571,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Authentikos Wealth Advisory LLC bought a new position in shares of Netflix during the 3rd quarter valued at $25,000. Spartan Planning & Wealth Management purchased a new stake in Netflix during the 3rd quarter valued at about $26,000. Carmel Capital Partners LLC increased its stake in Netflix by 290.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 58 shares during the period. Blue Bell Private Wealth Management LLC lifted its position in 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 purchasing an additional 35 shares during the last quarter. Finally, Pacifica Partners Inc. purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $41,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of Netflix stock traded down $5.49 during trading on Monday, hitting $555.74. 1,542,178 shares of the company’s stock traded hands, compared to its average volume of 4,480,020. Netflix, Inc. has a 1 year low of $315.62 and a 1 year high of $639.00. The business has a 50-day simple moving average of $604.54 and a 200-day simple moving average of $521.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $239.47 billion, a P/E ratio of 38.58, a PEG ratio of 1.37 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the prior year, the firm earned $2.88 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, analysts forecast that Netflix, Inc. will post 18.13 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 20,566 shares of the company’s 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 completion of the transaction, the chairman now owns 28 shares in the company, valued at $17,091.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Theodore A. Sarandos sold 68,957 shares of Netflix stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares in the company, valued at approximately $717,379.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the transaction, the chairman now owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. Insiders sold a total of 154,573 shares of company stock worth $89,548,241 over the last three months. 1.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a report on Monday, February 26th. Wedbush reiterated an “outperform” rating and set a $725.00 target price on shares of Netflix in a report on Friday, April 19th. JPMorgan Chase & Co. boosted their price target on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8th. The Goldman Sachs Group upped their price target on Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Finally, Loop Capital lifted their price objective on Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $630.58.

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.