Lord Abbett & CO. LLC Sells 153,026 Shares of Netflix, Inc. (NFLX)

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Lord Abbett & CO. LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 55.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,811 shares of the Internet television network’s stock after selling 153,026 shares during the period. Lord Abbett & CO. LLC’s holdings in Netflix were worth $32,872,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NFLX. Versant Capital Management Inc boosted its holdings in Netflix by 59.3% in the fourth quarter. Versant Capital Management Inc now owns 94 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. Pearl River Capital LLC bought a new position in Netflix in the fourth quarter valued at about $30,000. NuWave Investment Management LLC boosted its holdings in Netflix by 338.5% in the fourth quarter. NuWave Investment Management LLC now owns 114 shares of the Internet television network’s stock valued at $31,000 after acquiring an additional 88 shares during the last quarter. Citizens Financial Group Inc RI boosted its holdings in Netflix by 750.0% in the fourth quarter. Citizens Financial Group Inc RI now owns 136 shares of the Internet television network’s stock valued at $36,000 after acquiring an additional 120 shares during the last quarter. Finally, Contravisory Investment Management Inc. boosted its holdings in Netflix by 85.1% in the fourth quarter. Contravisory Investment Management Inc. now owns 137 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 63 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

A number of equities analysts have issued reports on the company. Sanford C. Bernstein restated a “buy” rating and set a $421.00 target price on shares of Netflix in a report on Tuesday, December 18th. BidaskClub cut Netflix from a “hold” rating to a “sell” rating in a report on Wednesday, December 12th. JPMorgan Chase & Co. reduced their target price on Netflix from $425.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, January 14th. Stifel Nicolaus restated a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Netflix in a report on Friday, January 18th. Finally, Raymond James restated a “strong-buy” rating and set a $470.00 target price (up previously from $450.00) on shares of Netflix in a report on Friday, January 18th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. Netflix has an average rating of “Buy” and an average price target of $375.75.

In other Netflix news, CEO Reed Hastings sold 63,147 shares of the business’s stock in a transaction that occurred on Monday, December 24th. The stock was sold at an average price of $241.12, for a total transaction of $15,226,004.64. Following the transaction, the chief executive officer now owns 63,147 shares of the company’s stock, valued at approximately $15,226,004.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne M. Sweeney sold 1,649 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $370.00, for a total value of $610,130.00. Following the transaction, the director now directly owns 609 shares in the company, valued at approximately $225,330. The disclosure for this sale can be found here. In the last three months, insiders sold 197,639 shares of company stock worth $61,581,281. 4.29% of the stock is owned by insiders.

Shares of Netflix stock opened at $358.82 on Friday. Netflix, Inc. has a 52-week low of $231.23 and a 52-week high of $423.21. The company has a market capitalization of $157.70 billion, a P/E ratio of 133.89, a PEG ratio of 2.94 and a beta of 1.37. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.98.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, January 17th. The Internet television network reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.06. Netflix had a return on equity of 25.82% and a net margin of 7.67%. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the firm earned $0.41 EPS. Netflix’s revenue for the quarter was up 27.4% compared to the same quarter last year. Research analysts forecast that Netflix, Inc. will post 4.05 earnings per share for the current year.

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About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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