Lederer & Associates Investment Counsel CA Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Lederer & Associates Investment Counsel CA lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 19.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,089 shares of the Internet television network’s stock after selling 492 shares during the quarter. Netflix makes up about 1.3% of Lederer & Associates Investment Counsel CA’s holdings, making the stock its 19th largest position. Lederer & Associates Investment Counsel CA’s holdings in Netflix were worth $1,862,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in Netflix in the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix during the third quarter worth about $37,000. FSA Wealth Management LLC purchased a new position in shares of Netflix during the third quarter worth about $38,000. Finally, First Personal Financial Services purchased a new position in shares of Netflix during the third quarter worth about $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In other Netflix news, CEO Theodore A. Sarandos sold 1,278 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the sale, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. The trade was a 33.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. In the last three months, insiders sold 105,516 shares of company stock worth $92,377,637. Company insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Argus raised their price objective on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. The Goldman Sachs Group raised their price objective on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and raised their price objective for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Guggenheim raised their price objective on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Price Performance

NFLX stock opened at $976.76 on Monday. The firm has a 50 day moving average of $904.67 and a 200-day moving average of $778.61. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $999.00. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $417.82 billion, a price-to-earnings ratio of 49.26, a PEG ratio of 2.02 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the firm earned $2.11 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.