Investment Management Corp of Ontario Trims Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Investment Management Corp of Ontario lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 36.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,719 shares of the Internet television network's stock after selling 16,081 shares during the quarter. Netflix accounts for 0.8% of Investment Management Corp of Ontario's portfolio, making the stock its 20th largest position. Investment Management Corp of Ontario's holdings in Netflix were worth $24,706,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Pathway Financial Advisers LLC lifted its stake in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after acquiring an additional 14 shares during the period. Transce3nd LLC purchased a new stake in Netflix in the fourth quarter valued at $32,000. Newton One Investments LLC purchased a new stake in Netflix in the fourth quarter valued at $34,000. Pineridge Advisors LLC grew its position in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after purchasing an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC raised its stake in shares of Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock valued at $42,000 after buying an additional 16 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares of the company's stock, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Insiders sold a total of 132,530 shares of company stock valued at $137,602,751 over the last 90 days. 1.76% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on NFLX. Guggenheim reiterated a "buy" rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Citigroup reaffirmed a "neutral" rating on shares of Netflix in a report on Monday, May 5th. The Goldman Sachs Group increased their price target on shares of Netflix from $850.00 to $960.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $1,126.00 price objective on shares of Netflix in a research report on Thursday, April 17th. Finally, Bank of America increased their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,084.91.

Netflix Stock Down 0.4 %

Shares of NASDAQ NFLX opened at $1,139.81 on Friday. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,164.00. The company has a market capitalization of $485.07 billion, a P/E ratio of 57.48, a P/E/G ratio of 2.12 and a beta of 1.58. The company has a 50 day simple moving average of $984.97 and a 200-day simple moving average of $933.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the business earned $8.28 earnings per share. On average, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.