Elite Wealth Management Inc. Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Elite Wealth Management Inc. reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 899 shares of the Internet television network’s stock after selling 14 shares during the period. Netflix makes up 0.1% of Elite Wealth Management Inc.’s portfolio, making the stock its 23rd biggest position. Elite Wealth Management Inc.’s holdings in Netflix were worth $801,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the third quarter valued at $25,000. Pathway Financial Advisers LLC increased its stake in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Netflix by 700.0% during the 3rd 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 in the last quarter. Newton One Investments LLC purchased a new stake in Netflix in the 4th quarter valued at about $34,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Netflix in the 3rd quarter worth about $37,000. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Macquarie lifted their target price on Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Citigroup upped their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Pivotal Research raised their price target on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 price objective (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Stock Down 2.1 %

NFLX stock opened at $1,003.15 on Friday. The stock has a market capitalization of $429.11 billion, a PE ratio of 50.59, a price-to-earnings-growth ratio of 2.16 and a beta of 1.27. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $940.55 and a 200 day moving average of $818.44.

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

Insider Buying and Selling at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total transaction of $473,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,220 shares of company stock worth $289,856,164. 1.76% of the stock is currently owned by insiders.

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.