GLOBALT Investments LLC GA Sells 21 Shares of Netflix, Inc. (NASDAQ:NFLX)

GLOBALT Investments LLC GA lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,495 shares of the Internet television network’s stock after selling 21 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Netflix were worth $4,006,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the period. First National Trust Co increased its stake in Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after acquiring an additional 12 shares during the last quarter. Haven Private LLC bought a new stake in Netflix in the 4th quarter worth approximately $733,000. Charles Schwab Investment Management Inc. increased its stake in Netflix by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after acquiring an additional 29,726 shares during the last quarter. Finally, Sigma Planning Corp increased its stake in Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after acquiring an additional 386 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the transaction, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at $3,624,746.55. This represents a 41.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the transaction, the chairman now directly owns 114 shares in the company, valued at $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 288,103 shares of company stock valued at $279,142,041. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on NFLX. Bank of America lifted their price objective on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Phillip Securities downgraded Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Wolfe Research raised 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. Finally, Morgan Stanley lifted their target price on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,014.26.

Netflix Trading Up 3.1 %

NFLX opened at $918.00 on Monday. The firm has a market cap of $392.68 billion, a price-to-earnings ratio of 46.29, a PEG ratio of 2.12 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The stock has a fifty day moving average price of $951.04 and a 200-day moving average price of $849.90.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results 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. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.11 EPS. As a group, equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.