Allstate Corp Sells 79 Shares of Netflix, Inc. (NASDAQ:NFLX)

Allstate Corp lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,482 shares of the Internet television network’s stock after selling 79 shares during the period. Allstate Corp’s holdings in Netflix were worth $722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Netflix by 1.2% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,883 shares of the Internet television network’s stock worth $917,000 after buying an additional 23 shares during the last quarter. Tidemark LLC purchased a new position in Netflix in the fourth quarter valued at approximately $212,000. Financial Advisors Network Inc. purchased a new position in Netflix in the fourth quarter valued at approximately $3,454,000. JPL Wealth Management LLC purchased a new position in Netflix in the fourth quarter valued at approximately $663,000. Finally, King Luther Capital Management Corp lifted its stake in Netflix by 60.8% in the fourth quarter. King Luther Capital Management Corp now owns 10,099 shares of the Internet television network’s stock valued at $4,917,000 after purchasing an additional 3,817 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.4 %

Shares of NFLX traded down $2.52 during trading hours on Thursday, hitting $637.95. The company had a trading volume of 908,798 shares, compared to its average volume of 4,238,983. The firm has a market cap of $274.96 billion, a P/E ratio of 44.20, a P/E/G ratio of 1.41 and a beta of 1.23. The stock’s 50 day moving average price is $606.33 and its 200 day moving average price is $546.83. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $650.88.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. Netflix’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $2.88 earnings per share. On average, research analysts predict that Netflix, Inc. will post 18.31 EPS for the current year.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 564 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Netflix news, CFO Spencer Adam Neumann sold 564 shares of Netflix stock in a transaction that occurred on Thursday, May 9th. The stock was 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 SEC, which is available through this hyperlink. Also, Director Ann Mather sold 3,673 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. Insiders have sold 78,039 shares of company stock valued at $46,401,083 over the last ninety days. 1.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. KeyCorp upped their price objective on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. upped their price objective on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Macquarie upped their price objective on Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Benchmark upped their price objective on Netflix from $440.00 to $450.00 and gave the company a “sell” rating in a research note on Friday, May 17th. Finally, UBS Group increased their target price on Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $630.53.

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.