Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,860 shares of the Internet television network’s stock after selling 3,922 shares during the period. Kestra Private Wealth Services LLC’s holdings in Netflix were worth $27,506,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Enzi Wealth increased its position in Netflix by 3.4% during the fourth quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock worth $316,000 after purchasing an additional 11 shares during the last quarter. TCI Wealth Advisors Inc. lifted its holdings in Netflix by 1.6% in the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock valued at $624,000 after acquiring an additional 11 shares during the last quarter. Blossom Wealth Management increased its stake in Netflix by 0.9% during the fourth quarter. Blossom Wealth Management now owns 1,248 shares of the Internet television network’s stock worth $1,112,000 after acquiring an additional 11 shares during the last quarter. Everett Harris & Co. CA lifted its stake in shares of Netflix by 1.3% in the 4th quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock valued at $775,000 after purchasing an additional 11 shares during the last quarter. Finally, Beacon Financial Advisory LLC increased its position in shares of Netflix by 0.9% during the 4th quarter. Beacon Financial Advisory LLC now owns 1,285 shares of the Internet television network’s stock worth $1,145,000 after purchasing an additional 11 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In other news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy M. Haley sold 647 shares of Netflix stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The disclosure for this sale can be found here. Insiders sold 299,517 shares of company stock valued at $285,805,037 in the last three months. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Performance

Shares of NFLX opened at $1,013.93 on Friday. The stock has a market capitalization of $433.72 billion, a P/E ratio of 51.13, a P/E/G ratio of 2.11 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,027.76. The company’s fifty day moving average is $917.36 and its two-hundred day moving average is $790.17.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $10.14 billion. During the same period in the prior year, the company posted $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Citigroup raised their price target on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Evercore ISI boosted their price objective on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $1,100.00 target price (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, 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. Ten research 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

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.