Sfmg LLC Cuts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Sfmg LLC decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,923 shares of the Internet television network’s stock after selling 73 shares during the quarter. Sfmg LLC’s holdings in Netflix were worth $1,714,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the period. First National Trust Co lifted its position in Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after purchasing an additional 12 shares during the period. Haven Private LLC bought a new position in Netflix during the fourth quarter valued at approximately $733,000. Sigma Planning Corp lifted its position in Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after purchasing an additional 386 shares during the period. Finally, M&T Bank Corp lifted its position in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares during the period. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Needham & Company LLC increased their price target on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Phillip Securities downgraded shares of Netflix from a “hold” rating to a “moderate sell” rating in a research report on Friday, January 24th. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 price target (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Guggenheim increased their price target on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,016.78.

Netflix Stock Performance

NFLX opened at $960.29 on Friday. The stock has a market capitalization of $410.77 billion, a price-to-earnings ratio of 48.43, a PEG ratio of 2.12 and a beta of 1.38. The company has a fifty day moving average of $959.08 and a 200 day moving average of $856.54. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

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

Insiders Place Their Bets

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 30,485 shares of Netflix stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the completion of the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at $386,876.48. The trade was a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 288,103 shares of company stock valued at $279,142,041 in the last three months. Corporate 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.