Viawealth LLC Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Viawealth LLC lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,215 shares of the Internet television network’s stock after selling 25 shares during the quarter. Viawealth LLC’s holdings in Netflix were worth $1,083,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NFLX. Swedbank AB boosted its holdings in shares of 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 acquiring an additional 8,024 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after purchasing an additional 198,148 shares during the period. BIP Wealth LLC bought a new position in shares of Netflix in the 3rd quarter worth approximately $260,000. Parnassus Investments LLC lifted its stake in shares of Netflix by 7.7% in the 3rd quarter. Parnassus Investments LLC now owns 1,135 shares of the Internet television network’s stock worth $805,000 after purchasing an additional 81 shares during the period. Finally, Avior Wealth Management LLC lifted its stake in shares of Netflix by 1.0% in the 3rd quarter. Avior Wealth Management LLC now owns 4,621 shares of the Internet television network’s stock worth $3,278,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 3.2 %

NFLX stock opened at $959.49 on Thursday. The firm has a fifty day moving average price of $955.11 and a 200 day moving average price of $854.07. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week 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 firm has a market cap of $410.43 billion, a PE ratio of 48.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share 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 firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the firm posted $2.11 earnings per share. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective on the stock in a research note on Thursday, January 23rd. Wedbush reiterated an “outperform” rating and issued a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Arete Research upgraded shares of Netflix to a “hold” rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Netflix from $1,000.00 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-six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,016.78.

Insiders Place Their Bets

In other Netflix news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now directly owns 246 shares of the company’s stock, valued at $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $30,946,506.10. The trade was a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 288,103 shares of company stock valued at $279,142,041 over the last three months. 1.76% of the stock is owned by company 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.