Destiny Wealth Partners LLC Sells 18 Shares of Netflix, Inc. (NASDAQ:NFLX)

Destiny Wealth Partners LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,721 shares of the Internet television network’s stock after selling 18 shares during the quarter. Destiny Wealth Partners LLC’s holdings in Netflix were worth $4,208,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares in the last quarter. Decker Retirement Planning Inc. purchased a new position in Netflix in the 4th quarter worth approximately $43,000. EMC Capital Management purchased a new position in Netflix in the 4th quarter worth approximately $45,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Netflix in the 3rd quarter valued at approximately $37,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Netflix stock opened at $976.76 on Friday. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $999.00. The company has a market cap of $417.82 billion, a price-to-earnings ratio of 49.26, a PEG ratio of 2.03 and a beta of 1.27. The firm’s fifty day moving average is $904.67 and its 200 day moving average is $777.76. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.11 EPS. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and boosted their price target for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. The Goldman Sachs Group upped their target price on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Morgan Stanley increased their price objective on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Pivotal Research raised their price target on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten equities 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 company’s stock. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,516 shares of company stock worth $92,377,637 in the last quarter. 1.76% of the stock is owned by company insiders.

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.