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

Montag & Caldwell LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 35.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,655 shares of the Internet television network’s stock after selling 27,783 shares during the period. Netflix comprises 4.2% of Montag & Caldwell LLC’s investment portfolio, making the stock its 4th biggest holding. Montag & Caldwell LLC’s holdings in Netflix were worth $24,176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Gilbert & Cook Inc. increased its holdings in Netflix by 5.9% in the 4th quarter. Gilbert & Cook Inc. now owns 2,177 shares of the Internet television network’s stock worth $1,060,000 after buying an additional 121 shares in the last quarter. Red Wave Investments LLC purchased a new stake in Netflix in the fourth quarter valued at $240,000. Del Sette Capital Management LLC boosted its stake in shares of Netflix by 3.9% in the fourth quarter. Del Sette Capital Management LLC now owns 3,024 shares of the Internet television network’s stock worth $1,472,000 after acquiring an additional 114 shares during the last quarter. Silver Oak Securities Incorporated increased its holdings in shares of Netflix by 58.1% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,023 shares of the Internet television network’s stock worth $498,000 after buying an additional 376 shares during the last quarter. Finally, Little House Capital LLC boosted its stake in shares of Netflix by 4.6% in the fourth quarter. Little House Capital LLC now owns 2,008 shares of the Internet television network’s stock valued at $978,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a report on Monday, April 15th. The Goldman Sachs Group increased their price objective on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Pivotal Research raised their price objective on Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a report on Friday, April 19th. DZ Bank raised Netflix from a “hold” rating to a “buy” rating and set a $600.00 target price on the stock in a research report on Thursday, January 25th. Finally, KeyCorp increased their target price on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned 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 a consensus target price of $630.58.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 20,734 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $567.16, for a total value of $11,759,495.44. The disclosure for this sale can be found here. Insiders sold 154,573 shares of company stock valued at $89,548,241 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Performance

NFLX traded down $3.93 on Monday, hitting $557.30. 947,658 shares of the company traded hands, compared to its average volume of 4,472,628. Netflix, Inc. has a 12-month low of $315.62 and a 12-month high of $639.00. The stock has a market capitalization of $240.14 billion, a PE ratio of 38.58, a PEG ratio of 1.37 and a beta of 1.22. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $604.54 and a 200-day moving average of $521.57.

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

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.