DAVENPORT & Co LLC Cuts Holdings in Netflix, Inc. (NASDAQ:NFLX)

DAVENPORT & Co LLC cut its position in shares of Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 16.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,497 shares of the Internet television network’s stock after selling 500 shares during the quarter. DAVENPORT & Co LLC’s holdings in Netflix were worth $935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Beck Bode LLC purchased a new position in Netflix during the first quarter worth about $649,000. Hudock Inc. boosted its holdings in Netflix by 190.2% during the first quarter. Hudock Inc. now owns 502 shares of the Internet television network’s stock worth $188,000 after purchasing an additional 329 shares during the last quarter. CapWealth Advisors LLC bought a new stake in Netflix in the first quarter worth about $2,949,000. Next Capital Management LLC bought a new stake in Netflix in the first quarter worth about $284,000. Finally, Mutual of America Capital Management LLC raised its position in Netflix by 1.3% in the first quarter. Mutual of America Capital Management LLC now owns 59,249 shares of the Internet television network’s stock worth $22,194,000 after acquiring an additional 761 shares during the period. 80.97% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of Netflix stock opened at $220.44 on Monday. Netflix, Inc. has a 52-week low of $162.71 and a 52-week high of $700.99. The stock has a market capitalization of $97.94 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The company has a fifty day moving average of $187.36 and a 200-day moving average of $297.95. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.05 and a current ratio of 1.05.

Netflix (NASDAQ:NFLX – Get Rating) last announced its quarterly earnings data on Tuesday, July 19th. The Internet television network reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.96 by $0.24. Netflix had a net margin of 16.42% and a return on equity of 30.07%. The company had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $8.03 billion. During the same quarter in the prior year, the company earned $2.97 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that Netflix, Inc. will post 10.06 EPS for the current year.

Wall Street Analyst Weigh In

NFLX has been the topic of several research reports. Wolfe Research lifted their price objective on shares of Netflix from $234.00 to $251.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 20th. Piper Sandler lifted their price objective on shares of Netflix from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 20th. KGI Securities lowered shares of Netflix from an “outperform” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, April 20th. Rosenblatt Securities lowered their price objective on shares of Netflix from $245.00 to $196.00 and set a “neutral” rating on the stock in a research report on Monday, July 18th. Finally, Truist Financial lowered their price objective on shares of Netflix from $300.00 to $210.00 and set a “hold” rating on the stock in a research report on Thursday, June 30th. Six research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $323.92.

Netflix Company Profile

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Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.