Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Envestnet Asset Management Inc.

by · The Cerbat Gem

Envestnet Asset Management Inc. reduced its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 651,944 shares of the Internet television network’s stock after selling 21,041 shares during the period. Envestnet Asset Management Inc.’s holdings in Netflix were worth $581,091,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Pathway Financial Advisers LLC grew its stake in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares during the period. Newton One Investments LLC acquired a new position in shares of Netflix during the 4th quarter valued at $34,000. Pineridge Advisors LLC boosted its position in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares during the period. Princeton Global Asset Management LLC increased its holdings in Netflix by 51.6% in the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after purchasing an additional 16 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new position in Netflix in the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at $3,402,068.52. This trade represents a 41.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 2,682 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 280,676 shares of company stock valued at $273,515,672. 1.76% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NFLX. Robert W. Baird upped their target price on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and upped their price target for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Argus lifted their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and upped their target price for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Finally, UBS Group set a $1,000.00 price target on shares of Netflix in a report on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,023.74.

Read Our Latest Stock Analysis on Netflix

Netflix Trading Down 6.7 %

Shares of NASDAQ:NFLX opened at $855.86 on Friday. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $366.10 billion, a PE ratio of 43.16, a P/E/G ratio of 2.12 and a beta of 1.38. The company’s 50-day moving average price is $970.24 and its 200 day moving average price is $874.63.

Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the firm posted $2.11 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

About Netflix

(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.

See Also

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