Aviso Wealth Management Cuts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Aviso Wealth Management lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,001 shares of the Internet television network’s stock after selling 378 shares during the quarter. Netflix makes up about 5.0% of Aviso Wealth Management’s investment portfolio, making the stock its 3rd largest holding. Aviso Wealth Management’s holdings in Netflix were worth $9,806,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NFLX. Graney & King LLC purchased a new position in Netflix during the fourth quarter valued at $107,000. Banco BTG Pactual S.A. bought a new stake in Netflix during the fourth quarter worth about $1,853,000. Core Wealth Partners LLC increased its stake in shares of Netflix by 3.5% during the fourth quarter. Core Wealth Partners LLC now owns 473 shares of the Internet television network’s stock valued at $422,000 after purchasing an additional 16 shares in the last quarter. Ausdal Financial Partners Inc. boosted its position in shares of Netflix by 17.2% in the 4th quarter. Ausdal Financial Partners Inc. now owns 2,092 shares of the Internet television network’s stock worth $1,865,000 after purchasing an additional 307 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. grew its stake in shares of Netflix by 500.0% in the 4th quarter. Mizuho Securities Co. Ltd. now owns 60 shares of the Internet television network’s stock worth $54,000 after buying an additional 50 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NFLX shares. Oppenheimer boosted their target price on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. 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. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and increased their price target for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 price objective (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,016.78.

Netflix Stock Up 2.6 %

Shares of NASDAQ NFLX opened at $997.28 on Wednesday. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The firm has a 50-day simple moving average of $965.09 and a two-hundred day simple moving average of $863.43. The company has a market cap of $426.59 billion, a P/E ratio of 50.29, a PEG ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.11 earnings per share. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 30,485 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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 $386,876.48. This represents a 98.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. This represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is currently owned by company 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.