Fortitude Advisory Group L.L.C. Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Fortitude Advisory Group L.L.C. cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 376 shares of the Internet television network’s stock after selling 11 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Netflix were worth $335,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Advisory Resource Group lifted its stake in Netflix by 0.7% during the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after acquiring an additional 12 shares during the period. Insight Wealth Strategies LLC boosted its stake in shares of Netflix by 1.9% in the 4th quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock worth $585,000 after buying an additional 12 shares during the last quarter. Sunflower Bank N.A. lifted its holdings in Netflix by 2.1% in the fourth quarter. Sunflower Bank N.A. now owns 575 shares of the Internet television network’s stock valued at $513,000 after acquiring an additional 12 shares during the period. D.B. Root & Company LLC boosted its position in Netflix by 4.1% in the fourth quarter. D.B. Root & Company LLC now owns 331 shares of the Internet television network’s stock worth $295,000 after purchasing an additional 13 shares during the last quarter. Finally, New World Advisors LLC grew its stake in shares of Netflix by 2.0% during the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after purchasing an additional 14 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of NFLX stock opened at $971.89 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $999.00. The business has a 50 day simple moving average of $895.13 and a 200 day simple moving average of $768.18. The firm has a market capitalization of $415.44 billion, a price-to-earnings ratio of 49.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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 the consensus estimate of $10,141,900 billion. During the same quarter in the prior year, the firm earned $2.11 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that Netflix, Inc. will post 23.72 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. StockNews.com cut shares of Netflix from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Guggenheim increased their target price on Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Citigroup lifted their price target on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, KeyCorp upped their price target on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Ten research 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 company’s stock. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Insiders Place Their Bets

In related news, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Theodore A. Sarandos sold 1,278 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the transaction, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,117 shares of company stock valued at $123,913,691 in the last three months. Insiders own 1.76% of the company’s stock.

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.