Traynor Capital Management Inc. Has $86.36 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Traynor Capital Management Inc. cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,888 shares of the Internet television network’s stock after selling 4,360 shares during the period. Netflix makes up approximately 5.8% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 5th biggest position. Traynor Capital Management Inc.’s holdings in Netflix were worth $86,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new stake in Netflix during the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the period. Decker Retirement Planning Inc. acquired a new position in Netflix in the 4th quarter worth approximately $43,000. MidAtlantic Capital Management Inc. acquired a new position in Netflix in the 3rd quarter worth approximately $37,000. Finally, FSA Wealth Management LLC acquired a new position in Netflix in the 3rd quarter worth approximately $38,000. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now directly owns 246 shares in the company, valued at $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,198 shares of company stock valued at $127,616,898. 1.76% of the stock is owned by company insiders.

Netflix Price Performance

Shares of NFLX opened at $953.99 on Thursday. The firm has a market capitalization of $407.79 billion, a PE ratio of 48.11, a PEG ratio of 1.41 and a beta of 1.27. The company’s 50-day moving average is $886.64 and its 200-day moving average is $762.07. Netflix, Inc. has a fifty-two week low of $481.40 and a fifty-two week high of $999.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.11 earnings per share. Equities analysts forecast that Netflix, Inc. will post 23.43 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Jefferies Financial Group lifted their target price on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Evercore ISI lifted their target price on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday. Oppenheimer raised their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $993.82.

Netflix Company 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.