Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Westover Capital Advisors LLC

Westover Capital Advisors LLC cut its position in Netflix, Inc. (NASDAQ:NFLX) by 0.8% during the fourth quarter, Holdings Channel reports. The firm owned 10,331 shares of the Internet television network’s stock after selling 85 shares during the period. Netflix makes up approximately 2.0% of Westover Capital Advisors LLC’s portfolio, making the stock its 12th largest position. Westover Capital Advisors LLC’s holdings in Netflix were worth $9,208,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NFLX. Proficio Capital Partners LLC grew its holdings in Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after acquiring an additional 1,924,423 shares during the period. State Street Corp grew its holdings in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the period. Strategic Financial Concepts LLC grew its holdings in Netflix by 112,896.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after acquiring an additional 381,590 shares during the period. Jennison Associates LLC grew its holdings 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 acquiring an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in Netflix during the third quarter worth about $222,871,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a report on Thursday, January 23rd. Piper Sandler reissued an “overweight” rating and issued a $1,100.00 price objective (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and raised their price objective for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Citigroup raised their price objective on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Trading Down 0.7 %

Shares of NASDAQ NFLX opened at $973.70 on Tuesday. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $948.96 and a 200-day simple moving average of $835.48. The stock has a market capitalization of $416.51 billion, a PE ratio of 49.10, a PEG ratio of 2.12 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released 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 firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the firm posted $2.11 EPS. Netflix’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the sale, the director now directly owns 246 shares of the company’s stock, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the sale, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,017 shares of company stock valued at $246,653,898 in the last three months. 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.