Malaga Cove Capital LLC Sells 17 Shares of Netflix, Inc. (NASDAQ:NFLX)

Malaga Cove Capital LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,567 shares of the Internet television network’s stock after selling 17 shares during the quarter. Malaga Cove Capital LLC’s holdings in Netflix were worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Netflix in the 4th quarter valued at $5,019,087,000. Proficio Capital Partners LLC lifted its stake in shares of Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after purchasing an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after purchasing an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after purchasing an additional 743,724 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock valued at $4,076,903,000 after buying an additional 570,674 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NFLX. FBN Securities began coverage on Netflix in a research note on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Netflix from $1,025.00 to $1,150.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Morgan Stanley lifted their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Rosenblatt Securities lifted their price target on Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Finally, Wells Fargo & Company boosted their price objective on Netflix from $1,210.00 to $1,222.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus price target of $1,084.91.

Insider Buying and Selling

In other Netflix news, Director Bradford L. Smith sold 3,919 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the sale, the director now owns 7,969 shares in the company, valued at $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jeffrey William Karbowski sold 160 shares of the company’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. Over the last 90 days, insiders have sold 132,868 shares of company stock worth $138,483,256. 1.76% of the stock is currently owned by corporate insiders.

Netflix Trading Up 2.6%

NASDAQ:NFLX opened at $1,138.44 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,164.00. The business’s 50-day simple moving average is $991.99 and its 200 day simple moving average is $938.19. The stock has a market cap of $484.49 billion, a price-to-earnings ratio of 57.41, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter in the previous year, the firm posted $8.28 earnings per share. As a group, sell-side analysts predict that Netflix, Inc. will post 24.58 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.