Cypress Point Wealth Management LLC Has $334,000 Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Cypress Point Wealth Management LLC decreased its stake in Netflix, Inc. (NASDAQ:NFLX) by 28.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 375 shares of the Internet television network’s stock after selling 148 shares during the period. Cypress Point Wealth Management LLC’s holdings in Netflix were worth $334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NFLX. State Street Corp grew its stake in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the period. Geode Capital Management LLC grew its stake in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC grew its stake in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the period. International Assets Investment Management LLC grew its stake in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $977.59 on Friday. The stock has a market cap of $417.88 billion, a PE ratio of 49.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $999.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. The stock has a fifty day moving average of $895.13 and a 200-day moving average of $766.98.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.11 earnings per share. Equities research analysts anticipate that Netflix, Inc. will post 23.72 earnings per share for the current year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction on 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 completion of the sale, the chairman now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,117 shares of company stock valued at $123,913,691. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NFLX shares. Wells Fargo & Company increased their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday. TD Cowen increased their price target on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Bank of America increased their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix 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.