Perfromance Wealth Partners LLC Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

by · The Markets Daily

Perfromance Wealth Partners LLC decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 46.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 250 shares of the Internet television network’s stock after selling 218 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in Netflix were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NFLX. International Assets Investment Management LLC increased its position in Netflix by 116,620.0% during 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 buying an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares during the last quarter. State Street Corp boosted its holdings in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Netflix during the third quarter worth $222,871,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NFLX. Argus raised their price objective on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Canaccord Genuity Group raised their price objective on Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a report on Monday, December 2nd. Bank of America raised their price objective on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Saturday, December 21st. Finally, Jefferies Financial Group lifted their target price on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $845.06.

Read Our Latest Research Report on Netflix

Insider Activity at Netflix

In related news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Theodore A. Sarandos sold 1,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total value of $980,289.90. Following the transaction, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at $1,960,579.80. This trade represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock valued at $127,616,898 over the last three months. 1.76% of the stock is owned by insiders.

Netflix Stock Up 1.3 %

Shares of Netflix stock opened at $869.68 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $371.75 billion, a P/E ratio of 49.22, a P/E/G ratio of 1.40 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $479.90 and a fifty-two week high of $941.75. The business has a 50-day moving average price of $885.64 and a 200 day moving average price of $760.81.

Netflix (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.11 earnings per share. On average, sell-side analysts forecast that Netflix, Inc. will post 19.76 earnings per share for the current fiscal year.

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.

Further Reading

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX – Free Report).