Falcon Wealth Planning Sells 115 Shares of Netflix, Inc. (NASDAQ:NFLX)

Falcon Wealth Planning trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 18.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 519 shares of the Internet television network’s stock after selling 115 shares during the quarter. Falcon Wealth Planning’s holdings in Netflix were worth $463,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Geode Capital Management LLC boosted its position in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after buying an additional 123,029 shares in the last quarter. Jennison Associates LLC grew its stake in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after acquiring an additional 23,702 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NFLX stock opened at $971.83 on Wednesday. The company has a market capitalization of $415.42 billion, a P/E ratio of 49.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $999.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. The company’s 50 day moving average price is $897.63 and its two-hundred day moving average price is $770.43.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.11 EPS. On average, analysts expect that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on NFLX. Pivotal Research raised their price target on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Wedbush reiterated an “outperform” rating and set a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Guggenheim increased their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Bank of America boosted their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Insider Buying and Selling

In other news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,117 shares of company stock worth $123,913,691. 1.76% of the stock is owned by corporate 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.