BCS Wealth Management Sells 14 Shares of Netflix, Inc. (NASDAQ:NFLX)

BCS Wealth Management reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.5% during the 4th quarter, Holdings Channel reports. The firm owned 922 shares of the Internet television network’s stock after selling 14 shares during the period. BCS Wealth Management’s holdings in Netflix were worth $822,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NFLX. RPg Family Wealth Advisory LLC bought a new position in Netflix during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Netflix during the third quarter valued at approximately $37,000. FSA Wealth Management LLC bought a new stake in Netflix in the third quarter valued at approximately $38,000. Finally, First Personal Financial Services acquired a new stake in Netflix in the third quarter worth $40,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 0.3 %

Shares of NFLX stock opened at $840.29 on Tuesday. The firm’s 50-day moving average is $879.75 and its 200-day moving average is $754.88. The stock has a market cap of $359.19 billion, a price-to-earnings ratio of 47.55, a PEG ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a 52-week low of $475.26 and a 52-week high of $941.75.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NFLX shares. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Saturday, December 21st. Needham & Company LLC boosted their target price on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Rosenblatt Securities raised their price target on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Finally, Canaccord Genuity Group increased their target price on Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $832.94.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % 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 stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $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 a total of 156,742 shares of company stock valued at $131,030,268 in the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Netflix Company Profile

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.