Financial Advocates Investment Management Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Financial Advocates Investment Management lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 22.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,116 shares of the Internet television network’s stock after selling 905 shares during the quarter. Financial Advocates Investment Management’s holdings in Netflix were worth $2,777,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Nordea Investment Management AB grew its position in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 period. Natixis Advisors LLC increased its stake in Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after purchasing an additional 11,921 shares in the last quarter. M&T Bank Corp raised its holdings in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after purchasing an additional 1,684 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Netflix during the third quarter worth $1,517,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NFLX shares. Arete Research upgraded Netflix to a “hold” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their target price on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and raised their price objective for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. Finally, Morgan Stanley boosted their price target 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,015.68 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $434.47 billion, a price-to-earnings ratio of 51.22, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,016.35. The business has a 50 day simple moving average of $912.05 and a 200-day simple moving average of $786.03.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the firm earned $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 102,228 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 292,270 shares of company stock worth $278,469,388 over the last quarter. 1.76% of the stock is owned by company 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.