Netflix, Inc. (NASDAQ:NFLX) Stock Position Lowered by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 16.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 817 shares of the Internet television network’s stock after selling 161 shares during the period. Sovereign Financial Group Inc.’s holdings in Netflix were worth $398,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Simmons Bank purchased a new stake in shares of Netflix in the fourth quarter worth approximately $204,000. Centric Wealth Management acquired a new stake in Netflix during the fourth quarter valued at $197,000. Charles Schwab Investment Management Inc. increased its position in Netflix by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,439,493 shares of the Internet television network’s stock worth $1,187,740,000 after purchasing an additional 45,865 shares during the last quarter. Northern Financial Advisors Inc lifted its holdings in shares of Netflix by 1.3% during the 4th quarter. Northern Financial Advisors Inc now owns 4,690 shares of the Internet television network’s stock valued at $2,283,000 after buying an additional 60 shares during the last quarter. Finally, Petix & Botte Co acquired a new position in Netflix in the fourth quarter worth approximately $238,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 1.5 %

NASDAQ:NFLX traded up $9.03 on Tuesday, hitting $606.00. 3,608,993 shares of the company’s stock were exchanged, compared to its average volume of 4,419,100. The company has a market cap of $261.16 billion, a P/E ratio of 42.05, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23. The firm has a 50-day moving average price of $602.85 and a 200-day moving average price of $531.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. Netflix, Inc. has a 52 week low of $322.03 and a 52 week high of $639.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.88 EPS. As a group, analysts expect that Netflix, Inc. will post 18.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Guggenheim increased their price target on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Loop Capital increased their price target on Netflix from $585.00 to $700.00 and gave the company a “buy” rating in a report on Monday, March 18th. Oppenheimer restated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research note on Friday, April 19th. BMO Capital Markets reiterated an “outperform” rating and issued a $713.00 target price (up previously from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Finally, DZ Bank raised Netflix from a “hold” rating to a “buy” rating and set a $600.00 price target on the stock in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $631.15.

Insider Activity

In related news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $566.35, for a total transaction of $723,795.30. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $7,413,521.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $566.35, for a total transaction of $723,795.30. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,413,521.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,141 shares of company stock valued at $90,796,396. 1.76% of the stock is 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.