Elite Wealth Management Inc. Sells 14 Shares of Netflix, Inc. (NASDAQ:NFLX)

Elite Wealth Management Inc. decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 899 shares of the Internet television network’s stock after selling 14 shares during the quarter. Netflix accounts for approximately 0.1% of Elite Wealth Management Inc.’s holdings, making the stock its 23rd biggest position. Elite Wealth Management Inc.’s holdings in Netflix were worth $801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NFLX. State Street Corp lifted its position 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 valued at $12,023,082,000 after purchasing an additional 426,740 shares during the period. Geode Capital Management LLC raised its stake in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after buying an additional 123,029 shares during the last quarter. Jennison Associates LLC raised its stake in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Netflix by 0.5% during the 3rd 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 buying an additional 23,702 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of Netflix by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after buying an additional 123,987 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NFLX shares. UBS Group upped their price objective on Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group upped their price target on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective on the stock in a report on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 target price (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Finally, Oppenheimer lifted their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Price Performance

NASDAQ:NFLX opened at $1,003.15 on Friday. The business’s 50-day moving average is $940.55 and its 200 day moving average is $818.44. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a market capitalization of $429.11 billion, a P/E ratio of 50.59, a P/E/G ratio of 2.16 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

Insider Activity at Netflix

In other news, Director Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. The trade was a 27.61 % decrease in their position. 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 90 days. 1.76% of the stock is owned by corporate insiders.

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.