Trivest Advisors Ltd Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Trivest Advisors Ltd decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 88.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,100 shares of the Internet television network’s stock after selling 69,900 shares during the period. Trivest Advisors Ltd’s holdings in Netflix were worth $8,111,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB increased its position in Netflix by 1.8% during the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock valued at $329,958,000 after buying an additional 8,024 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Netflix by 13.3% during the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after acquiring an additional 198,148 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Netflix by 6.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 70,276 shares of the Internet television network’s stock worth $49,844,000 after purchasing an additional 4,348 shares in the last quarter. Quest Partners LLC boosted its stake in Netflix by 191.8% in the 3rd quarter. Quest Partners LLC now owns 2,760 shares of the Internet television network’s stock worth $1,958,000 after purchasing an additional 1,814 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Netflix during the 3rd quarter worth approximately $37,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NFLX stock opened at $929.98 on Wednesday. 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 capitalization of $397.81 billion, a price-to-earnings ratio of 46.90, a P/E/G ratio of 2.12 and a beta of 1.38. The stock’s fifty day simple moving average is $953.42 and its 200-day simple moving average is $853.33. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NFLX shares. Citigroup boosted their price objective on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Evercore ISI raised their price objective on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. UBS Group reaffirmed a “buy” rating on shares of Netflix in a report on Monday, March 10th. Needham & Company LLC boosted their target price on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Robert W. Baird lifted their target price on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,016.78.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 30,485 shares of Netflix stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the sale, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $386,876.48. The trade was a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total value of $2,554,312.05. Following the transaction, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at approximately $3,624,746.55. The trade was a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock valued at $279,142,041 in the last 90 days. 1.76% of the stock is currently owned by 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.