Orion Portfolio Solutions LLC Reduces Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Orion Portfolio Solutions LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 16.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 32,995 shares of the Internet television network’s stock after selling 6,403 shares during the period. Orion Portfolio Solutions LLC’s holdings in Netflix were worth $29,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in NFLX. Vanguard Group Inc. grew its position in shares of Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after purchasing an additional 171,712 shares in the last quarter. State Street Corp boosted its stake 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 buying an additional 426,740 shares during the period. Geode Capital Management LLC grew its position in 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 buying an additional 123,029 shares in the last quarter. Norges Bank bought a new position in Netflix in the 4th quarter worth about $5,019,087,000. Finally, Wellington Management Group LLP raised its holdings in shares of Netflix by 0.5% in 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 acquiring an additional 23,702 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NFLX shares. Guggenheim boosted their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Pivotal Research raised their price objective on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Finally, StockNews.com lowered Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Ten research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.02.

Netflix Stock Up 0.6 %

Netflix stock opened at $976.72 on Friday. The stock has a market cap of $417.80 billion, a PE ratio of 49.25, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. 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 stock has a fifty day moving average of $970.22 and a 200 day moving average of $864.96. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its 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. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.11 earnings per share. As a group, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In other news, CEO Gregory K. Peters sold 102,228 shares of Netflix stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the sale, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 41,121 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 288,583 shares of company stock valued at $279,611,567 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

About Netflix

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.