Fulcrum Capital LLC Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Fulcrum Capital LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,725 shares of the Internet television network’s stock after selling 302 shares during the quarter. Netflix accounts for about 2.2% of Fulcrum Capital LLC’s investment portfolio, making the stock its 14th biggest position. Fulcrum Capital LLC’s holdings in Netflix were worth $10,451,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NFLX. International Assets Investment Management LLC grew its stake in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after acquiring an additional 642,920 shares during the period. State Street Corp boosted its stake in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the period. Jennison Associates LLC boosted its stake in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in Netflix in the third quarter valued at approximately $222,871,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NFLX shares. KeyCorp boosted their target price on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Rosenblatt Securities upped their price target on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Canaccord Genuity Group upped their price target on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 price target (up previously from $800.00) on shares of Netflix in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $832.94.

Insider Transactions at Netflix

In related news, Director Leslie J. Kilgore sold 358 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the transaction, the director now owns 35,262 shares in the company, valued at $26,975,430. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gregory K. Peters sold 4,186 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,817,500. The trade was a 24.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,742 shares of company stock valued at $131,030,268 in the last three months. 1.76% of the stock is owned by corporate insiders.

Netflix Price Performance

NFLX traded down $3.00 during midday trading on Monday, reaching $834.69. 1,942,967 shares of the company’s stock were exchanged, compared to its average volume of 2,918,257. The firm has a market capitalization of $356.79 billion, a price-to-earnings ratio of 47.24, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a one year low of $475.26 and a one year high of $941.75. The business has a 50-day simple moving average of $878.06 and a two-hundred day simple moving average of $753.78.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, research analysts predict that Netflix, Inc. will post 19.78 EPS 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.