Wealth Alliance Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Wealth Alliance lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 9.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,721 shares of the Internet television network’s stock after selling 501 shares during the period. Wealth Alliance’s holdings in Netflix were worth $2,299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Netflix in the 4th quarter valued at $1,501,762,000. Moneta Group Investment Advisors LLC raised its holdings in Netflix by 117,939.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock valued at $808,575,000 after acquiring an additional 2,739,725 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Netflix by 15,039.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after buying an additional 2,061,859 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Netflix by 202.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,790,092 shares of the Internet television network’s stock worth $788,518,000 after buying an additional 1,198,774 shares during the period. Finally, Barclays PLC raised its position in shares of Netflix by 113.1% in the 2nd quarter. Barclays PLC now owns 1,869,385 shares of the Internet television network’s stock worth $823,446,000 after buying an additional 992,193 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,003,651.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,181,250. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock worth $151,619,811 over the last ninety days. Company insiders own 2.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NFLX shares. Benchmark increased their target price on Netflix from $350.00 to $425.00 and gave the stock a “sell” rating in a research report on Friday, January 19th. KeyCorp increased their target price on Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Redburn Atlantic increased their target price on Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Citigroup increased their target price on Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research report on Monday, March 25th. Finally, Barclays raised their price objective on Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $603.48.

Netflix Stock Performance

NFLX stock traded up $12.64 during midday trading on Tuesday, reaching $619.79. The company had a trading volume of 2,580,532 shares, compared to its average volume of 4,240,831. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $602.41 and a 200 day moving average price of $508.76. Netflix, Inc. has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The firm has a market capitalization of $268.22 billion, a PE ratio of 51.70, a P/E/G ratio of 1.69 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company had revenue of $8.83 billion during the quarter, compared to analyst estimates of $8.72 billion. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. Analysts anticipate that Netflix, Inc. will post 17.02 earnings per share for the current year.

Netflix Company Profile

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.