Sfmg LLC Has $1.01 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Sfmg LLC reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,068 shares of the Internet television network’s stock after selling 33 shares during the quarter. Sfmg LLC’s holdings in Netflix were worth $1,007,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NFLX. State Street Corp raised its holdings in Netflix by 0.4% in the first quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock worth $5,595,196,000 after purchasing an additional 62,507 shares during the period. Morgan Stanley raised its holdings in Netflix by 11.1% in the fourth quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock worth $1,906,005,000 after purchasing an additional 644,162 shares during the period. Norges Bank acquired a new stake in Netflix in the fourth quarter worth $1,501,762,000. Northern Trust Corp raised its holdings in Netflix by 2.1% in the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after purchasing an additional 96,938 shares during the period. Finally, Jennison Associates LLC raised its holdings in Netflix by 24.3% in the third quarter. Jennison Associates LLC now owns 3,878,293 shares of the Internet television network’s stock worth $1,464,444,000 after purchasing an additional 759,378 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jay C. Hoag sold 47,000 shares of Netflix stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the completion of the sale, the director now owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Netflix news, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $17,003,651.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 47,000 shares of Netflix stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the completion of the sale, the director now owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The disclosure for this sale can be found here. In the last 90 days, insiders sold 268,335 shares of company stock valued at $151,619,811. Company insiders own 2.45% of the company’s stock.

Netflix Stock Performance

Shares of NFLX traded down $8.24 during midday trading on Wednesday, reaching $609.28. The stock had a trading volume of 1,346,299 shares, compared to its average volume of 4,213,524. The firm has a 50 day simple moving average of $603.65 and a 200-day simple moving average of $510.44. Netflix, Inc. has a one year low of $315.62 and a one year high of $639.00. The firm has a market cap of $263.67 billion, a PE ratio of 51.23, a P/E/G ratio of 1.64 and a beta of 1.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). The company had revenue of $8.83 billion for the quarter, compared to the consensus estimate of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 EPS. As a group, sell-side analysts anticipate that Netflix, Inc. will post 17.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NFLX shares. Piper Sandler increased their target price on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Evercore ISI increased their target price on shares of Netflix from $600.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Robert W. Baird raised their price objective on shares of Netflix from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Wedbush raised their price objective on shares of Netflix from $615.00 to $725.00 and gave the stock an “outperform” rating in a report on Wednesday, March 27th. Finally, Seaport Res Ptn lowered shares of Netflix from a “buy” rating to a “neutral” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $603.48.

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.