Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Lineweaver Wealth Advisors LLC

Lineweaver Wealth Advisors LLC cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,321 shares of the Internet television network’s stock after selling 56 shares during the quarter. Lineweaver Wealth Advisors LLC’s holdings in Netflix were worth $1,177,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Netflix by 112,896.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after purchasing an additional 381,590 shares during the period. Jennison Associates LLC grew its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. Westfield Capital Management Co. LP acquired a new position in Netflix during the third quarter worth approximately $222,871,000. Finally, AustralianSuper Pty Ltd raised its stake in Netflix by 12,243.4% during the third quarter. AustralianSuper Pty Ltd now owns 290,071 shares of the Internet television network’s stock worth $205,739,000 after purchasing an additional 287,721 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on NFLX shares. Needham & Company LLC upped their price objective on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $1,100.00 price target (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Bank of America lifted their price objective on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and increased their target price for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Finally, Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and lifted their price target for the company from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Trading Up 1.3 %

Netflix stock opened at $990.06 on Thursday. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $423.51 billion, a PE ratio of 49.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The firm has a 50 day simple moving average of $945.07 and a 200-day simple moving average of $827.46.

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

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $13,338,500. The trade was a 27.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 685 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,009.57, for a total transaction of $691,555.45. Following the completion of the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,726,322.87. The trade was a 15.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 303,220 shares of company stock valued at $289,856,164 over the last three months. Company insiders own 1.76% of the company’s stock.

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.