Kingsview Wealth Management LLC Has $43.40 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Kingsview Wealth Management LLC trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.5% during the fourth quarter, Holdings Channel reports. The firm owned 48,694 shares of the Internet television network’s stock after selling 4,497 shares during the period. Netflix comprises 0.8% of Kingsview Wealth Management LLC’s holdings, making the stock its 25th biggest holding. Kingsview Wealth Management LLC’s holdings in Netflix were worth $43,402,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Nordea Investment Management AB increased its stake in shares of Netflix by 22.7% in 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 buying an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 29,726 shares in the last quarter. Natixis Advisors LLC grew its stake 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 valued at $434,398,000 after purchasing an additional 11,921 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Netflix by 4.2% in 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 in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Netflix during the 3rd quarter worth $1,517,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,013.93 on Friday. The firm has a market cap of $433.72 billion, a P/E ratio of 51.13, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. The business’s 50 day moving average is $914.82 and its 200-day moving average is $787.62. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,027.76.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on NFLX shares. Bank of America lifted their target price on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Needham & Company LLC boosted their price objective on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Phillip Securities lowered shares of Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Argus boosted their price target on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Citigroup raised their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Buying and Selling at Netflix

In other news, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Timothy M. Haley sold 647 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The disclosure for this sale can be found here. Insiders sold a total of 299,517 shares of company stock worth $285,805,037 over the last three months. Corporate insiders own 1.76% of the company’s stock.

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.