Prossimo Advisors LLC Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Prossimo Advisors LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 6.3% during the 4th quarter, HoldingsChannel reports. The firm owned 433 shares of the Internet television network’s stock after selling 29 shares during the quarter. Prossimo Advisors LLC’s holdings in Netflix were worth $386,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NFLX. Pathway Financial Advisers LLC raised its holdings in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Netflix in the 3rd quarter worth approximately $25,000. Newton One Investments LLC acquired a new stake in Netflix in the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC lifted its position in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC lifted its position in shares of Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NFLX shares. Piper Sandler reissued an “overweight” rating and issued a $1,100.00 price objective (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a research report on Thursday, January 23rd. Wedbush reissued an “outperform” rating and set a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Morgan Stanley lifted their price target on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note 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 assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Insider Transactions at Netflix

In other news, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 303,220 shares of company stock worth $289,856,164 in the last 90 days. 1.76% of the stock is owned by insiders.

Netflix Trading Down 2.1 %

NASDAQ NFLX opened at $1,035.85 on Wednesday. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. 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 has a market cap of $443.10 billion, a price-to-earnings ratio of 52.24, a PEG ratio of 2.19 and a beta of 1.27. The firm’s 50 day moving average price is $934.75 and its two-hundred day moving average price is $812.56.

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

Netflix Company 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.