Circle Wealth Management LLC Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

by · The Cerbat Gem

Circle Wealth Management LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,814 shares of the Internet television network’s stock after selling 284 shares during the period. Circle Wealth Management LLC’s holdings in Netflix were worth $6,073,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $5,019,087,000. Proficio Capital Partners LLC increased its stake in Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after buying an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after buying an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Netflix by 318.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after buying an additional 743,724 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock valued at $4,076,903,000 after acquiring an additional 570,674 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Up 1.6 %

NASDAQ NFLX opened at $1,155.41 on Thursday. The company has a market capitalization of $491.71 billion, a P/E ratio of 58.27, a PEG ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,167.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company’s 50 day simple moving average is $978.21 and its 200 day simple moving average is $926.63.

Netflix (NASDAQ:NFLX – Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same period in the previous year, the firm posted $8.28 EPS. Equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BMO Capital Markets restated an “outperform” rating and set a $1,200.00 price objective (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Loop Capital restated a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Robert W. Baird increased their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Oppenheimer reissued an “outperform” rating and set a $1,200.00 price objective (up from $1,150.00) on shares of Netflix in a report on Friday, April 18th. Finally, Bank of America upped their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,084.91.

Read Our Latest Research Report on NFLX

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 2,027 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $1,141.51, for a total transaction of $2,313,840.77. Following the completion of the sale, the chief executive officer now directly owns 12,781 shares in the company, valued at approximately $14,589,639.31. This trade represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Cletus R. Willems sold 298 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $35,972,180. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 132,530 shares of company stock valued at $137,602,751. Company insiders own 1.76% of the company’s stock.

Netflix 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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