Hixon Zuercher LLC Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Hixon Zuercher LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,854 shares of the Internet television network’s stock after selling 358 shares during the quarter. Netflix makes up approximately 1.7% of Hixon Zuercher LLC’s portfolio, making the stock its 25th biggest position. Hixon Zuercher LLC’s holdings in Netflix were worth $4,326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB grew its position in shares of Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after buying an additional 29,726 shares in the last quarter. Natixis Advisors LLC grew its position in shares of Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after buying an additional 11,921 shares in the last quarter. M&T Bank Corp grew its position in shares of Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after buying an additional 1,684 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in shares of Netflix during the third quarter worth about $1,517,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Netflix stock opened at $973.24 on Friday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $999.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13. The business has a 50 day simple moving average of $901.54 and a 200-day simple moving average of $774.15. The stock has a market capitalization of $416.31 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 2.03 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate 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 return on equity of 38.32% and a net margin of 22.34%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 earnings per share. Equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Guggenheim boosted their price objective on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and upped their price target for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Loop Capital upped their price target on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group upped their price target on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

Insiders Place Their Bets

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,516 shares of company stock worth $92,377,637. 1.76% of the stock is owned by corporate insiders.

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.