Netflix, Inc. (NASDAQ:NFLX) Stock Position Reduced by Financial Advocates Investment Management

Financial Advocates Investment Management cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 22.5% in the fourth quarter, Holdings Channel reports. The firm owned 3,116 shares of the Internet television network’s stock after selling 905 shares during the period. Financial Advocates Investment Management’s holdings in Netflix were worth $2,777,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares during the period. Natixis Advisors LLC lifted its position in shares of Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after acquiring an additional 11,921 shares during the period. M&T Bank Corp boosted its stake in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after buying an additional 1,684 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of Netflix in the 3rd quarter valued at approximately $1,517,000. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Arete Research raised shares of Netflix to a “hold” rating in a research report on Thursday, January 23rd. Finally, Benchmark raised Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Performance

NASDAQ NFLX opened at $1,015.68 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s fifty day moving average is $912.05 and its two-hundred day moving average is $786.03. The firm has a market capitalization of $434.47 billion, a P/E ratio of 51.22, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,016.35.

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

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 685 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,009.57, for a total transaction of $691,555.45. Following the completion of the sale, the chief financial officer now owns 3,691 shares of the company’s stock, valued at approximately $3,726,322.87. The trade was a 15.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 292,270 shares of company stock valued at $278,469,388. 1.76% of the stock is currently owned by corporate insiders.

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.