Lyell Wealth Management LP Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Lyell Wealth Management LP cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,089 shares of the Internet television network’s stock after selling 101 shares during the period. Lyell Wealth Management LP’s holdings in Netflix were worth $5,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in NFLX. International Assets Investment Management LLC lifted its holdings in Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after acquiring an additional 2,061,859 shares during the last quarter. Jennison Associates LLC lifted its stake in Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Netflix by 142.6% during the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after purchasing an additional 392,427 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its stake in Netflix by 171.4% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 475,000 shares of the Internet television network’s stock worth $231,258,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Netflix during the third quarter worth $99,219,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 5,533 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $575.00, for a total value of $3,181,475.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $7,526,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Netflix news, CEO Gregory K. Peters sold 5,533 shares of Netflix stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $575.00, for a total value of $3,181,475.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,526,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 20,734 shares of Netflix stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $567.16, for a total value of $11,759,495.44. The disclosure for this sale can be found here. Insiders have sold 160,106 shares of company stock worth $92,729,716 in the last quarter. Company insiders own 2.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NFLX shares. BMO Capital Markets restated an “outperform” rating and set a $713.00 price target (up from $638.00) on shares of Netflix in a research note on Wednesday, April 17th. Barclays upped their price target on Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. KeyCorp increased their price objective on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Piper Sandler increased their price objective on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Benchmark reiterated a “sell” rating and issued a $440.00 price objective on shares of Netflix in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $630.58.

Netflix Stock Performance

NFLX stock traded down $22.63 during trading on Wednesday, hitting $555.12. The company had a trading volume of 5,303,842 shares, compared to its average volume of 4,527,938. The firm has a market cap of $239.20 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. Netflix, Inc. has a 1-year low of $315.62 and a 1-year high of $639.00. The firm has a 50-day moving average price of $605.56 and a 200-day moving average price of $517.91. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.88 EPS. On average, analysts expect that Netflix, Inc. will post 17.87 earnings per share for the current year.

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.