Netflix, Inc. (NASDAQ:NFLX) Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 25.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 293 shares of the Internet television network’s stock after selling 100 shares during the quarter. ProVise Management Group LLC’s holdings in Netflix were worth $261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its stake in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix in the third quarter valued at about $25,000. Newton One Investments LLC acquired a new stake in shares of Netflix in the fourth quarter valued at about $34,000. Pineridge Advisors LLC grew its stake 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 buying an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its stake in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after buying an additional 16 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 30,485 shares of Netflix stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the transaction, the chairman now directly owns 394 shares in the company, valued at approximately $386,876.48. This trade represents a 98.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock worth $279,142,041 in the last three months. 1.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NFLX. Bank of America increased 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. Morgan Stanley increased their target price on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Arete Research raised Netflix to a “hold” rating in a report on Thursday, January 23rd. Finally, Macquarie increased their price target on Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,016.78.

Netflix Stock Up 3.2 %

NFLX opened at $959.49 on Thursday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $410.43 billion, a P/E ratio of 48.39, a P/E/G ratio of 2.12 and a beta of 1.38. The stock’s 50 day moving average price is $955.11 and its 200 day moving average price is $854.07.

Netflix (NASDAQ:NFLX) last posted its earnings results 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same period last year, the firm earned $2.11 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current 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.