Synovus Financial Corp Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Synovus Financial Corp cut its position in Netflix, Inc. (NASDAQ:NFLX) by 33.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,423 shares of the Internet television network’s stock after selling 4,244 shares during the quarter. Synovus Financial Corp’s holdings in Netflix were worth $7,508,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NFLX. Pathway Financial Advisers LLC lifted its position in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares in the last quarter. Newton One Investments LLC bought a new stake in Netflix during the fourth quarter worth about $34,000. Pineridge Advisors LLC boosted its stake in Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after buying an additional 40 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of Netflix by 51.6% in the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after purchasing an additional 16 shares in the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in shares of Netflix during the fourth quarter valued at about $43,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares in the company, valued at $362,933.10. This trade represents a 98.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Insiders sold a total of 274,312 shares of company stock valued at $267,919,297 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

Netflix Trading Down 0.3 %

Shares of Netflix stock opened at $918.29 on Monday. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $392.80 billion, a P/E ratio of 46.31, a P/E/G ratio of 2.12 and a beta of 1.55. The company has a fifty day moving average of $960.09 and a 200 day moving average of $885.47.

Netflix (NASDAQ:NFLX) last released 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 firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.11 earnings per share. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on NFLX. The Goldman Sachs Group raised their target price on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. StockNews.com cut Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. KeyCorp dropped their price objective on shares of Netflix from $1,100.00 to $1,000.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and boosted their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Finally, Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and increased their price target for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,017.31.

Netflix 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.