Sfmg LLC Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Sfmg LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,068 shares of the Internet television network’s stock after selling 33 shares during the period. Sfmg LLC’s holdings in Netflix were worth $1,007,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fairfield Bush & CO. lifted its holdings in shares of Netflix by 26.5% in the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock valued at $916,000 after purchasing an additional 512 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Netflix by 21.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock valued at $179,820,000 after purchasing an additional 84,179 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Netflix by 14.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock valued at $1,094,000 after purchasing an additional 363 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in shares of Netflix by 6.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock valued at $13,610,000 after purchasing an additional 2,358 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Netflix by 13.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock valued at $1,426,000 after purchasing an additional 441 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Down 1.3 %

Shares of Netflix stock traded down $8.24 during trading hours on Wednesday, reaching $609.28. 1,346,299 shares of the company’s stock were exchanged, compared to its average volume of 4,213,524. Netflix, Inc. has a 52-week low of $315.62 and a 52-week high of $639.00. The firm has a market capitalization of $263.67 billion, a price-to-earnings ratio of 51.23, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. The company has a fifty day moving average of $603.65 and a 200-day moving average of $510.44. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business had revenue of $8.83 billion for the quarter, compared to analysts’ expectations of $8.72 billion. During the same period in the prior year, the company earned $0.12 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Sell-side analysts forecast that Netflix, Inc. will post 17.03 EPS for the current fiscal year.

Insider Transactions at Netflix

In other news, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the sale, the chief executive officer now directly owns 1,278 shares in the company, valued at approximately $717,379.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock worth $151,619,811 in the last ninety days. Insiders own 2.45% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the topic of several recent research reports. Piper Sandler boosted their price target on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Loop Capital boosted their price target on Netflix from $585.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft boosted their price target on Netflix from $525.00 to $550.00 and gave the company a “hold” rating in a research report on Monday. UBS Group boosted 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. Finally, Wedbush boosted their target price on Netflix from $615.00 to $725.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $603.48.

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.