Victory Capital Management Inc. Trims Position in Netflix, Inc. (NASDAQ:NFLX)

Victory Capital Management Inc. cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 487,860 shares of the Internet television network’s stock after selling 16,258 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Netflix worth $237,529,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NFLX. KFA Private Wealth Group LLC raised its holdings in Netflix by 1.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after buying an additional 18 shares during the period. Addison Advisors LLC raised its holdings in Netflix by 7.8% in the 4th quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock valued at $134,000 after buying an additional 20 shares during the period. Regent Peak Wealth Advisors LLC raised its holdings in Netflix by 1.6% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 1,304 shares of the Internet television network’s stock valued at $635,000 after buying an additional 21 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Netflix by 5.9% in the 4th quarter. Capital Advisors Ltd. LLC now owns 393 shares of the Internet television network’s stock valued at $191,000 after buying an additional 22 shares during the period. Finally, Centurion Wealth Management LLC raised its holdings in Netflix by 2.4% in the 4th quarter. Centurion Wealth Management LLC now owns 984 shares of the Internet television network’s stock valued at $479,000 after buying an additional 23 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,839 shares of company stock valued at $77,788,745. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Performance

Shares of NFLX opened at $551.71 on Thursday. The stock has a 50 day moving average price of $603.12 and a 200 day moving average price of $524.53. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $237.73 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 1.35 and a beta of 1.23. Netflix, Inc. has a 52-week low of $315.62 and a 52-week high of $639.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.88 earnings per share. Research analysts predict that Netflix, Inc. will post 18.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on NFLX. Guggenheim boosted their price objective on shares of Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley boosted their price target on shares of Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Piper Sandler boosted their price target on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Oppenheimer reiterated an “outperform” rating and set a $725.00 price target on shares of Netflix in a research note on Friday, April 19th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $713.00 price target (up from $638.00) on shares of Netflix in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $631.15.

Netflix Company 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.