Simplicity Wealth LLC Sells 472 Shares of Netflix, Inc. (NASDAQ:NFLX)

Simplicity Wealth LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 19.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,967 shares of the Internet television network’s stock after selling 472 shares during the period. Simplicity Wealth LLC’s holdings in Netflix were worth $1,753,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after acquiring an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Netflix by 1.2% in the 3rd 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 acquiring an additional 29,726 shares in the last quarter. Sigma Planning Corp raised its position in shares of Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after acquiring an additional 386 shares in the last quarter. Haven Private LLC bought a new position in shares of Netflix in the 4th quarter worth about $733,000. Finally, Natixis Advisors LLC increased its position in Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after buying an additional 11,921 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on NFLX shares. Deutsche Bank Aktiengesellschaft boosted their target price on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 target price (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. UBS Group boosted their target price on Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Arete Research raised Netflix to a “hold” rating in a research report on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. The trade was a 99.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at $3,624,746.55. The trade was a 41.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock valued at $279,142,041 in the last 90 days. 1.76% of the stock is currently owned by company insiders.

Netflix Price Performance

Netflix stock opened at $891.11 on Monday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The business’s 50 day simple moving average is $950.26 and its 200 day simple moving average is $842.54. The company has a market cap of $381.18 billion, a price-to-earnings ratio of 44.94, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm posted $2.11 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix 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.