PFG Investments LLC Trims Stock Position in Netflix, Inc. (NASDAQ:NFLX)

PFG Investments LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,931 shares of the Internet television network’s stock after selling 106 shares during the period. PFG Investments LLC’s holdings in Netflix were worth $5,286,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB increased its holdings in Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after acquiring an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Netflix by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after purchasing an additional 29,726 shares in the last quarter. Natixis Advisors LLC boosted its stake in Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after buying an additional 11,921 shares during the period. M&T Bank Corp boosted its stake 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 buying an additional 1,684 shares during the period. Finally, Kestra Investment Management LLC purchased a new position in Netflix during the third quarter worth $1,517,000. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. This trade represents a 99.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. Insiders sold a total of 147,117 shares of company stock worth $123,913,691 in the last quarter. Corporate insiders own 1.76% of the company’s stock.

Netflix Trading Down 0.7 %

Shares of NFLX opened at $977.59 on Monday. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $999.00. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $417.88 billion, a price-to-earnings ratio of 49.30, a P/E/G ratio of 1.53 and a beta of 1.27. The stock’s 50-day moving average price is $895.13 and its 200 day moving average price is $767.55.

Netflix (NASDAQ:NFLX) last announced its 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 business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. During the same period in the previous year, the business earned $2.11 EPS. Netflix’s revenue was up 16.0% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 23.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NFLX shares. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. TD Cowen upped their target price on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. UBS Group upped their target price on Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and increased their price objective for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, 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.