Global Retirement Partners LLC Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Global Retirement Partners LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLXFree Report) by 31.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,854 shares of the Internet television network’s stock after selling 1,326 shares during the quarter. Global Retirement Partners LLC’s holdings in Netflix were worth $1,373,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Blue Trust Inc. increased its stake in Netflix by 19.2% in the 4th quarter. Blue Trust Inc. now owns 882 shares of the Internet television network’s stock worth $429,000 after buying an additional 142 shares in the last quarter. Constant Guidance Financial LLC purchased a new stake in Netflix in the 4th quarter worth $2,014,000. Inscription Capital LLC purchased a new stake in Netflix in the 4th quarter worth $326,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Netflix in the 4th quarter worth $249,000. Finally, Traynor Capital Management Inc. increased its stake in Netflix by 1.6% in the 4th quarter. Traynor Capital Management Inc. now owns 99,339 shares of the Internet television network’s stock worth $48,366,000 after buying an additional 1,536 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Netflix stock opened at $607.33 on Friday. The company has a 50 day moving average price of $586.74 and a 200-day moving average price of $489.66. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. Netflix, Inc. has a fifty-two week low of $315.62 and a fifty-two week high of $634.39. The company has a market capitalization of $262.83 billion, a PE ratio of 50.57, a P/E/G ratio of 1.65 and a beta of 1.22.

Netflix (NASDAQ:NFLXGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company had revenue of $8.83 billion for the quarter, compared to the consensus estimate of $8.72 billion. During the same period in the prior year, the firm posted $0.12 EPS. The business’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts forecast that Netflix, Inc. will post 17.01 earnings per share for the current year.

Insider Activity

In other news, CEO Theodore A. Sarandos sold 68,957 shares of Netflix stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the transaction, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,767 shares of company stock valued at $151,298,232. Corporate insiders own 2.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on Netflix from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Redburn Atlantic raised their price objective on Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Macquarie upgraded Netflix from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $410.00 to $595.00 in a research report on Wednesday, January 24th. Piper Sandler raised their price objective on Netflix from $475.00 to $550.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Finally, Citigroup raised their price objective on Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $583.18.

Read Our Latest Report on NFLX

Netflix Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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