Legal Advantage Investments Inc. Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Legal Advantage Investments Inc. cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,377 shares of the Internet television network’s stock after selling 50 shares during the period. Netflix makes up 1.6% of Legal Advantage Investments Inc.’s investment portfolio, making the stock its 21st biggest holding. Legal Advantage Investments Inc.’s holdings in Netflix were worth $3,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Thrivent Financial for Lutherans raised its stake in shares of Netflix by 26.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 65,928 shares of the Internet television network’s stock worth $44,493,000 after buying an additional 13,848 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Netflix by 27.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 544 shares of the Internet television network’s stock worth $367,000 after buying an additional 116 shares in the last quarter. Edge Capital Group LLC raised its stake in shares of Netflix by 4.8% during the 2nd quarter. Edge Capital Group LLC now owns 1,737 shares of the Internet television network’s stock worth $1,172,000 after buying an additional 79 shares in the last quarter. Certified Advisory Corp raised its stake in shares of Netflix by 7.4% during the 2nd quarter. Certified Advisory Corp now owns 1,156 shares of the Internet television network’s stock worth $780,000 after buying an additional 80 shares in the last quarter. Finally, HighVista Strategies LLC purchased a new position in shares of Netflix during the 2nd quarter worth approximately $1,215,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 5,698 shares of Netflix 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 sale, the director now directly owns 246 shares of the company’s stock, valued at approximately $185,976. The trade was a 95.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,198 shares of company stock worth $127,616,898 in the last three months. 1.76% of the stock is currently owned by insiders.

Netflix Stock Up 1.9 %

Shares of NFLX stock opened at $858.10 on Tuesday. Netflix, Inc. has a 1 year low of $476.06 and a 1 year high of $941.75. The stock has a market cap of $366.80 billion, a PE ratio of 48.56, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The business’s fifty day moving average is $884.58 and its 200-day moving average is $759.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NFLX shares. Guggenheim increased their target price on Netflix from $825.00 to $950.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. BMO Capital Markets upped their price target on Netflix from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Barclays upped their price target on Netflix from $550.00 to $715.00 and gave the stock an “underweight” rating in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft upped their price target on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, KeyCorp upped their price target on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $845.06.

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.