Red Door Wealth Management LLC Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Red Door Wealth Management LLC decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,674 shares of the Internet television network’s stock after selling 263 shares during the quarter. Red Door Wealth Management LLC’s holdings in Netflix were worth $2,383,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NFLX. International Assets Investment Management LLC lifted its stake 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 purchasing an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in 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 in the last quarter. State Street Corp lifted its position in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Jennison Associates LLC lifted its position 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 last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Netflix in the 3rd quarter valued at about $222,871,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,500 shares of company stock worth $123,309,210. 1.76% of the stock is currently owned by company insiders.

Netflix Price Performance

Netflix stock opened at $984.86 on Friday. The firm has a fifty day moving average of $889.11 and a 200-day moving average of $763.41. Netflix, Inc. has a 52-week low of $537.07 and a 52-week high of $999.00. 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 capitalization of $420.99 billion, a P/E ratio of 49.67, a PEG ratio of 1.41 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. During the same period last year, the company posted $2.11 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, analysts predict that Netflix, Inc. will post 23.43 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. TD Cowen boosted their price objective on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a research report on Thursday. Macquarie raised their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $715.00 to $900.00 in a report on Wednesday. Finally, StockNews.com lowered Netflix from a “buy” rating to a “hold” rating in a report on Thursday. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $996.94.

Netflix 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.