Guinness Asset Management LTD Has $43.30 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Guinness Asset Management LTD trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 15.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,572 shares of the Internet television network’s stock after selling 8,907 shares during the quarter. Netflix makes up about 0.8% of Guinness Asset Management LTD’s portfolio, making the stock its 26th largest holding. Guinness Asset Management LTD’s holdings in Netflix were worth $43,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in NFLX. AE Wealth Management LLC boosted its stake in shares of Netflix by 24.3% during the second quarter. AE Wealth Management LLC now owns 10,466 shares of the Internet television network’s stock valued at $7,063,000 after purchasing an additional 2,044 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Netflix by 17.7% in the 2nd quarter. Pacer Advisors Inc. now owns 64,556 shares of the Internet television network’s stock valued at $43,568,000 after buying an additional 9,700 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Netflix by 26.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 65,928 shares of the Internet television network’s stock worth $44,493,000 after buying an additional 13,848 shares during the period. Kowal Investment Group LLC grew its holdings in Netflix by 6.3% during the 2nd quarter. Kowal Investment Group LLC now owns 888 shares of the Internet television network’s stock worth $599,000 after acquiring an additional 53 shares during the last quarter. Finally, Circle Wealth Management LLC increased its position in Netflix by 37.0% in the 2nd quarter. Circle Wealth Management LLC now owns 5,618 shares of the Internet television network’s stock valued at $3,791,000 after acquiring an additional 1,516 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 1.9 %

Shares of NASDAQ NFLX opened at $858.10 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a 1 year low of $476.06 and a 1 year high of $941.75. The stock has a market capitalization of $366.80 billion, a P/E ratio of 48.56, a P/E/G ratio of 1.35 and a beta of 1.27. The company has a 50-day moving average price of $884.58 and a 200-day moving average price of $759.04.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, equities research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on shares of Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Argus lifted their target price on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Barclays increased their price target on Netflix from $550.00 to $715.00 and gave the company an “underweight” rating in a research note on Tuesday, January 14th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Finally, Piper Sandler upped their target price on Netflix from $840.00 to $950.00 and gave the company an “overweight” rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $845.06.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 152,198 shares of company stock worth $127,616,898 over the last 90 days. 1.76% of the stock is currently 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.