Netflix, Inc. (NASDAQ:NFLX) Stock Holdings Lessened by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC decreased its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.5% in the fourth quarter, HoldingsChannel reports. The firm owned 1,240 shares of the Internet television network’s stock after selling 72 shares during the period. Providence Wealth Advisors LLC’s holdings in Netflix were worth $1,084,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after acquiring an additional 171,712 shares during the period. State Street Corp lifted its position in shares of Netflix by 2.6% in 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 purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the period. Wellington Management Group LLP grew its position in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Netflix by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock valued at $4,035,404,000 after buying an additional 45,507 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the business’s 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction that occurred on Tuesday, January 7th. The shares were 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 owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,583 shares of company stock valued at $279,611,567. 1.76% of the stock is owned by company insiders.

Netflix Stock Down 2.7 %

Shares of Netflix stock opened at $970.65 on Thursday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The business has a fifty day simple moving average of $967.54 and a 200 day simple moving average of $864.18. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market cap of $415.20 billion, a PE ratio of 48.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 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 company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the prior year, the business posted $2.11 EPS. Netflix’s revenue was up 16.0% on a year-over-year basis. Research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of recent research reports. Piper Sandler reaffirmed 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. Pivotal Research lifted their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Robert W. Baird increased their price target on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Finally, Macquarie boosted their price target on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $1,016.78.

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.