Montrusco Bolton Investments Inc. Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Montrusco Bolton Investments Inc. lowered its stake in Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 33.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,119 shares of the Internet television network’s stock after selling 43,929 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Netflix were worth $20,982,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NFLX. Asahi Life Asset Management CO. LTD. raised its holdings in Netflix by 27.2% in the third quarter. Asahi Life Asset Management CO. LTD. now owns 5,451 shares of the Internet television network’s stock worth $1,283,000 after purchasing an additional 1,165 shares in the last quarter. Clifford Swan Investment Counsel LLC purchased a new position in Netflix during the 3rd quarter valued at about $215,000. Bellecapital International Ltd. boosted its stake in Netflix by 71.6% during the third quarter. Bellecapital International Ltd. now owns 7,406 shares of the Internet television network’s stock worth $1,744,000 after acquiring an additional 3,089 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in Netflix by 0.9% in the third quarter. Chevy Chase Trust Holdings LLC now owns 274,130 shares of the Internet television network’s stock worth $64,541,000 after purchasing an additional 2,475 shares during the period. Finally, Redwood Financial Network Corp bought a new position in shares of Netflix during the third quarter valued at approximately $208,000. 77.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NFLX shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Netflix from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 20th. Argus raised their price target on shares of Netflix from $340.00 to $390.00 and gave the company a “buy” rating in a report on Monday. Loop Capital boosted their price objective on shares of Netflix from $225.00 to $320.00 in a report on Tuesday, January 17th. Cfra upgraded shares of Netflix from a “sell” rating to a “buy” rating and set a $310.00 price objective on the stock in a research report on Thursday, December 29th. Finally, Benchmark raised their price target on Netflix from $225.00 to $250.00 and gave the stock a “sell” rating in a research note on Friday, January 20th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, Netflix presently has an average rating of “Hold” and an average target price of $342.36.

Netflix Stock Down 0.8 %

Shares of Netflix stock traded down $2.87 on Wednesday, reaching $360.96. The stock had a trading volume of 2,522,380 shares, compared to its average volume of 10,962,893. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $160.63 billion, a P/E ratio of 36.57, a P/E/G ratio of 1.89 and a beta of 1.27. The company has a 50 day moving average price of $307.15 and a 200 day moving average price of $262.65. Netflix, Inc. has a 1 year low of $162.71 and a 1 year high of $458.48.

Netflix (NASDAQ:NFLX – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The Internet television network reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.35). Netflix had a return on equity of 23.06% and a net margin of 14.21%. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.85 billion. During the same period in the prior year, the business posted $1.33 earnings per share. Netflix’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Netflix, Inc. will post 10.94 EPS for the current year.

Netflix Company Profile

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Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.