Pine Haven Investment Counsel Inc Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Pine Haven Investment Counsel Inc trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 877 shares of the Internet television network’s stock after selling 25 shares during the quarter. Pine Haven Investment Counsel Inc’s holdings in Netflix were worth $782,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after purchasing an additional 642,920 shares during the period. State Street Corp increased its position in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Jennison Associates LLC raised its stake in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in Netflix in the 3rd quarter valued at about $222,871,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NFLX shares. TD Cowen raised their price target on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Morgan Stanley raised their target price on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price target on Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Loop Capital cut their price objective on Netflix from $950.00 to $925.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Canaccord Genuity Group upped their target price on shares of Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $845.06.

Insider Activity at Netflix

In other Netflix news, Director Richard N. Barton sold 5,698 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the transaction, the director now owns 246 shares in the company, valued at $185,976. This represents a 95.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock valued at $127,616,898 over the last three months. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Performance

NASDAQ:NFLX opened at $858.10 on Monday. The firm has a market capitalization of $366.80 billion, a PE ratio of 48.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The business’s fifty day moving average price is $884.58 and its 200 day moving average price is $759.04. Netflix, Inc. has a 12 month low of $476.06 and a 12 month high of $941.75.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, sell-side analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal 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.