CapWealth Advisors LLC Sells 522 Shares of Netflix, Inc. (NASDAQ:NFLX)

CapWealth Advisors LLC lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,533 shares of the Internet television network’s stock after selling 522 shares during the quarter. Netflix accounts for 1.8% of CapWealth Advisors LLC’s portfolio, making the stock its 23rd largest position. CapWealth Advisors LLC’s holdings in Netflix were worth $14,866,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NFLX. State Street Corp increased its stake in Netflix by 0.4% in the 1st quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock worth $5,595,196,000 after buying an additional 62,507 shares during the period. Morgan Stanley increased its stake in Netflix by 11.1% in the 4th quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock worth $1,906,005,000 after buying an additional 644,162 shares during the period. Norges Bank purchased a new position in Netflix in the 4th quarter worth about $1,501,762,000. Northern Trust Corp increased its stake in Netflix by 2.1% in the 3rd quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after buying an additional 96,938 shares during the period. Finally, Jennison Associates LLC increased its stake in Netflix by 24.3% in the 3rd quarter. Jennison Associates LLC now owns 3,878,293 shares of the Internet television network’s stock worth $1,464,444,000 after buying an additional 759,378 shares during the period. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Evercore ISI raised their price target on shares of Netflix from $600.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. Wells Fargo & Company raised their price target on shares of Netflix from $460.00 to $650.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Redburn Atlantic raised their target price on shares of Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. BMO Capital Markets reissued an “outperform” rating and set a $713.00 target price (up previously from $638.00) on shares of Netflix in a research report on Wednesday. Finally, Benchmark reissued a “sell” rating and set a $440.00 target price on shares of Netflix in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $614.75.

Netflix Stock Performance

NASDAQ NFLX traded up $3.34 on Thursday, hitting $617.03. 2,066,810 shares of the company’s stock traded hands, compared to its average volume of 4,210,819. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix, Inc. has a 1-year low of $315.62 and a 1-year high of $639.00. The firm’s 50-day moving average price is $604.73 and its two-hundred day moving average price is $511.17. The firm has a market capitalization of $267.03 billion, a PE ratio of 51.53, a P/E/G ratio of 1.67 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business had revenue of $8.83 billion for the quarter, compared to analyst estimates of $8.72 billion. During the same quarter in the previous year, the firm posted $0.12 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. As a group, analysts expect that Netflix, Inc. will post 17.05 EPS for the current year.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 5,352 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,181,250. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Gregory K. Peters sold 5,352 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 3,673 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock worth $151,619,811 in the last three months. Company insiders own 2.45% 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.