Onyx Bridge Wealth Group LLC Sells 84 Shares of Netflix, Inc. (NASDAQ:NFLX)

Onyx Bridge Wealth Group LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,107 shares of the Internet television network’s stock after selling 84 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Netflix were worth $987,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NFLX. State Street Corp raised its holdings in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 valued at $6,464,736,000 after acquiring an additional 123,029 shares in the last quarter. Jennison Associates LLC raised its holdings in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC lifted its position in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Netflix by 0.5% during 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 purchasing an additional 23,702 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In other Netflix news, CEO Gregory K. Peters sold 102,228 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. This trade represents a 88.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 2,682 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. Insiders sold 291,585 shares of company stock valued at $277,777,833 in the last ninety days. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NFLX shares. 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. Macquarie upped their target price on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Wedbush restated an “outperform” rating and set a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company lifted their target price on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Up 1.6 %

NASDAQ NFLX opened at $1,011.11 on Thursday. The stock has a 50 day moving average price of $909.38 and a 200-day moving average price of $784.44. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,011.83. 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 company has a market capitalization of $432.51 billion, a P/E ratio of 50.99, a P/E/G ratio of 2.02 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.11 earnings per share. As a group, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.