Axxcess Wealth Management LLC Sells 216 Shares of Netflix, Inc. (NASDAQ:NFLX)

Axxcess Wealth Management LLC lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,611 shares of the Internet television network’s stock after selling 216 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Netflix were worth $10,522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NFLX. Columbia Trust Co 01012016 lifted its holdings in shares of Netflix by 15.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after purchasing an additional 208 shares during the last quarter. Crumly & Associates Inc. boosted its holdings in Netflix by 4.1% in the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after acquiring an additional 83 shares in the last quarter. Venture Visionary Partners LLC grew its stake in shares of Netflix by 15.4% in the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after acquiring an additional 1,318 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Netflix by 142.6% during the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after acquiring an additional 392,427 shares in the last quarter. Finally, Sandy Cove Advisors LLC raised its position in shares of Netflix by 10.6% in the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The disclosure for this sale can be found here. Insiders sold a total of 152,833 shares of company stock valued at $88,270,051 in the last three months. 1.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Canaccord Genuity Group cut shares of Netflix from a “buy” rating to a “hold” rating and decreased their target price for the stock from $720.00 to $585.00 in a report on Friday, April 19th. Needham & Company LLC upgraded Netflix from a “hold” rating to a “buy” rating and set a $700.00 target price on the stock in a research note on Friday, April 19th. Jefferies Financial Group boosted their price target on Netflix from $580.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, March 12th. Sanford C. Bernstein lifted their price target on shares of Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a research note on Friday, April 19th. Finally, Benchmark restated a “sell” rating and issued a $440.00 target price on shares of Netflix in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $631.15.

Netflix Stock Up 2.5 %

Shares of NFLX traded up $14.19 during midday trading on Friday, reaching $579.34. The stock had a trading volume of 3,307,524 shares, compared to its average volume of 4,520,712. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The company’s fifty day simple moving average is $602.57 and its two-hundred day simple moving average is $526.33. The company has a market cap of $249.67 billion, a price-to-earnings ratio of 40.20, a PEG ratio of 1.40 and a beta of 1.23. Netflix, Inc. has a 1-year low of $317.95 and a 1-year high of $639.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the prior year, the firm posted $2.88 EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities research analysts expect that Netflix, Inc. will post 18.3 earnings per share for the current year.

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.