Allspring Global Investments Holdings LLC Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Allspring Global Investments Holdings LLC lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 0.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 181,452 shares of the Internet television network’s stock after selling 654 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Netflix were worth $160,950,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NFLX. RPg Family Wealth Advisory LLC bought a new position in Netflix in the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC purchased a new position in Netflix during the 4th quarter valued at about $34,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix during the third quarter valued at about $37,000. Finally, Pineridge Advisors LLC boosted its position in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Arete Research upgraded Netflix to a “hold” rating in a research report on Thursday, January 23rd. Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Evercore ISI upped their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Robert W. Baird raised their target price on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Bank of America boosted their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Ten equities 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Trading Down 1.9 %

NASDAQ NFLX opened at $1,008.08 on Wednesday. The stock has a market cap of $431.22 billion, a P/E ratio of 50.84, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,032.85. The stock has a 50 day simple moving average of $919.96 and a two-hundred day simple moving average of $795.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

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 the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the previous year, the business posted $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In other news, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Anne M. Sweeney sold 589 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders have sold 303,809 shares of company stock worth $290,374,484 over the last 90 days. 1.76% of the stock is owned by company insiders.

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.