StrategIQ Financial Group LLC Trims Stock Position in Netflix, Inc. (NASDAQ:NFLX)

StrategIQ Financial Group LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLXFree Report) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 851 shares of the Internet television network’s stock after selling 21 shares during the quarter. StrategIQ Financial Group LLC’s holdings in Netflix were worth $415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Authentikos Wealth Advisory LLC purchased a new stake in Netflix during the third quarter worth $25,000. Spartan Planning & Wealth Management acquired a new position in shares of Netflix in the third quarter worth about $26,000. Carmel Capital Partners LLC boosted its stake in shares of Netflix by 290.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 58 shares in the last quarter. Evermay Wealth Management LLC grew its position in shares of Netflix by 94.9% during the 1st quarter. Evermay Wealth Management LLC now owns 115 shares of the Internet television network’s stock valued at $40,000 after acquiring an additional 56 shares during the period. Finally, Pacifica Partners Inc. purchased a new position in shares of Netflix in the 4th quarter valued at about $41,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock worth $151,619,811 over the last 90 days. 2.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NFLX. Evercore ISI increased their price target on Netflix from $600.00 to $640.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th. Wedbush increased their target price on Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a research report on Wednesday, March 27th. Piper Sandler boosted their price target on shares of Netflix from $475.00 to $550.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Jefferies Financial Group upped their price objective on shares of Netflix from $580.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 12th. Finally, Wells Fargo & Company lifted their target price on shares of Netflix from $460.00 to $650.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $583.18.

Read Our Latest Analysis on NFLX

Netflix Stock Up 2.1 %

Shares of Netflix stock traded up $12.76 during trading hours on Wednesday, reaching $626.97. 779,837 shares of the company were exchanged, compared to its average volume of 4,413,909. The firm has a market cap of $271.33 billion, a PE ratio of 51.14, a PEG ratio of 1.66 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. Netflix, Inc. has a 1 year low of $315.62 and a 1 year high of $634.39. The stock’s fifty day moving average is $591.75 and its 200 day moving average is $493.62.

Netflix (NASDAQ:NFLXGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The company had revenue of $8.83 billion during the quarter, compared to analyst estimates of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. Netflix’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. As a group, equities research analysts forecast that Netflix, Inc. will post 17.01 earnings per share for the current year.

Netflix Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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