Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Acas LLC

Acas LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 859 shares of the Internet television network’s stock after selling 31 shares during the period. Acas LLC’s holdings in Netflix were worth $418,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Summit Global Investments lifted its position in shares of Netflix by 29.0% during the 3rd quarter. Summit Global Investments now owns 2,064 shares of the Internet television network’s stock worth $779,000 after buying an additional 464 shares during the period. Douglas Lane & Associates LLC grew its stake in shares of Netflix by 12.5% in the third quarter. Douglas Lane & Associates LLC now owns 559 shares of the Internet television network’s stock valued at $211,000 after acquiring an additional 62 shares in the last quarter. Capital Investment Advisors LLC increased its stake in Netflix by 5.2% in the third quarter. Capital Investment Advisors LLC now owns 1,284 shares of the Internet television network’s stock valued at $485,000 after acquiring an additional 63 shares during the last quarter. Montecito Bank & Trust lifted its position in shares of Netflix by 56.3% during the 3rd quarter. Montecito Bank & Trust now owns 800 shares of the Internet television network’s stock worth $302,000 after buying an additional 288 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of Netflix by 12.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 886 shares of the Internet television network’s stock worth $335,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In related news, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the transaction, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Netflix news, CFO Spencer Adam Neumann sold 565 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $565.37, for a total value of $319,434.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The disclosure for this sale can be found here. Insiders have sold 160,106 shares of company stock worth $92,729,716 over the last ninety days. Insiders own 2.45% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX traded down $0.76 during midday trading on Thursday, reaching $554.36. The company’s stock had a trading volume of 1,079,342 shares, compared to its average volume of 4,482,318. Netflix, Inc. has a one year low of $315.62 and a one year high of $639.00. The company has a 50 day moving average price of $605.56 and a 200 day moving average price of $517.91. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62. The company has a market cap of $238.87 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the prior year, the company earned $2.88 EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts expect that Netflix, Inc. will post 18.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NFLX shares. Evercore ISI lifted their target price on Netflix from $640.00 to $650.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Morgan Stanley lifted their price objective on shares of Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. DZ Bank upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $600.00 price objective for the company in a research report on Thursday, January 25th. Bank of America raised their price objective on Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Piper Sandler boosted their price objective on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $630.58.

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.