Belpointe Asset Management LLC Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Belpointe Asset Management LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,215 shares of the Internet television network’s stock after selling 214 shares during the quarter. Belpointe Asset Management LLC’s holdings in Netflix were worth $8,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of NFLX. West Michigan Advisors LLC lifted its holdings in shares of Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock valued at $692,000 after buying an additional 10 shares during the period. Warwick Investment Management Inc. increased its position in Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock valued at $266,000 after acquiring an additional 10 shares during the last quarter. MRP Capital Investments LLC lifted its holdings in Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after acquiring an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC boosted its position in Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after purchasing an additional 10 shares during the last quarter. Finally, Enzi Wealth grew its stake in shares of Netflix by 3.4% during the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock valued at $316,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $362,933.10. The trade was a 98.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares in the company, valued at $3,402,068.52. The trade was a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 274,312 shares of company stock worth $267,919,297. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $918.29 on Monday. The firm has a fifty day simple moving average of $960.09 and a two-hundred day simple moving average of $885.47. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $392.80 billion, a P/E ratio of 46.31, a PEG ratio of 2.12 and a beta of 1.55.

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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business posted $2.11 earnings per share. The firm’s revenue was up 16.0% on a year-over-year basis. On average, analysts expect 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. Evercore ISI increased their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Macquarie increased their price target on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Arete Research raised shares of Netflix to a “hold” rating in a research report on Thursday, January 23rd. Argus raised their target price on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,017.31.

Netflix Profile

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.