Principal Street Partners LLC Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Principal Street Partners LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 49.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,174 shares of the Internet television network's stock after selling 4,060 shares during the period. Principal Street Partners LLC's holdings in Netflix were worth $2,032,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Principal Securities Inc. bought a new position in Netflix during the fourth quarter valued at approximately $2,316,000. Summa Corp. purchased a new position in Netflix in the 4th quarter worth $439,000. Heritage Investors Management Corp lifted its stake in Netflix by 3.7% in the fourth quarter. Heritage Investors Management Corp now owns 1,410 shares of the Internet television network's stock worth $687,000 after purchasing an additional 50 shares during the last quarter. US Asset Management LLC bought a new position in shares of Netflix during the fourth quarter valued at about $651,000. Finally, Wealthspire Advisors LLC lifted its stake in shares of Netflix by 4.7% in the 4th quarter. Wealthspire Advisors LLC now owns 5,469 shares of the Internet television network's stock valued at $2,663,000 after acquiring an additional 247 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In related news, CFO Spencer Adam Neumann sold 564 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gregory K. Peters sold 5,821 shares of Netflix stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $3,492,600.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,854,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Spencer Adam Neumann sold 564 shares of the company's stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,039 shares of company stock valued at $46,401,083. 1.76% of the stock is currently owned by insiders.

Analyst Ratings Changes

NFLX has been the topic of several recent analyst reports. Canaccord Genuity Group cut shares of Netflix from a "buy" rating to a "hold" rating and cut their target price for the stock from $720.00 to $585.00 in a report on Friday, April 19th. Morgan Stanley raised their target price on Netflix from $600.00 to $700.00 and gave the stock an "overweight" rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Netflix from $525.00 to $550.00 and gave the company a "hold" rating in a research note on Monday, April 15th. KeyCorp lifted their target price on shares of Netflix from $580.00 to $705.00 and gave the company an "overweight" rating in a research note on Wednesday, March 20th. Finally, StockNews.com raised shares of Netflix from a "hold" rating to a "buy" rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $631.15.

Netflix Stock Down 0.2 %

Netflix stock traded down $1.22 during midday trading on Friday, hitting $610.87. 2,653,586 shares of the company's stock were exchanged, compared to its average volume of 4,652,068. The firm has a 50-day moving average of $603.12 and a two-hundred day moving average of $534.13. Netflix, Inc. has a 12 month low of $329.61 and a 12 month high of $639.00. The company has a market cap of $263.28 billion, a PE ratio of 42.39, a P/E/G ratio of 1.48 and a beta of 1.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts' consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the previous year, the firm posted $2.88 earnings per share. Netflix's revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, analysts expect that Netflix, Inc. will post 18.3 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.