Sfmg LLC Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

Sfmg LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,996 shares of the Internet television network’s stock after selling 81 shares during the period. Sfmg LLC’s holdings in Netflix were worth $1,416,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. AdvisorNet Financial Inc boosted its holdings in Netflix by 2.5% in the second quarter. AdvisorNet Financial Inc now owns 854 shares of the Internet television network’s stock valued at $576,000 after acquiring an additional 21 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. Welch Group LLC lifted its stake in shares of Netflix by 6.9% in the 2nd quarter. Welch Group LLC now owns 665 shares of the Internet television network’s stock valued at $449,000 after purchasing an additional 43 shares in the last quarter. Bar Harbor Wealth Management purchased a new stake in shares of Netflix during the 2nd quarter worth about $283,000. Finally, Swedbank AB increased its position in Netflix by 28.2% during the 2nd quarter. Swedbank AB now owns 457,184 shares of the Internet television network’s stock worth $308,544,000 after purchasing an additional 100,643 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 2.5 %

NFLX stock opened at $936.56 on Thursday. The firm has a market cap of $400.34 billion, a price-to-earnings ratio of 53.00, a PEG ratio of 1.80 and a beta of 1.27. Netflix, Inc. has a 1-year low of $459.20 and a 1-year high of $941.75. The firm has a fifty day moving average price of $805.66 and a two-hundred day moving average price of $716.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research reports. KeyCorp boosted their price objective on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Sanford C. Bernstein upped their price target on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Evercore ISI increased their price target on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Piper Sandler restated an “overweight” rating and set a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Finally, Needham & Company LLC upped their target price on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $787.85.

Insider Activity

In other news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leslie J. Kilgore sold 428 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $715.00, for a total transaction of $306,020.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,405 shares of company stock valued at $129,623,487. 1.76% of the stock is currently owned by insiders.

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.