Ibex Wealth Advisors Sells 27,878 Shares of Netflix, Inc. (NASDAQ:NFLX)

Ibex Wealth Advisors lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 86.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,492 shares of the Internet television network’s stock after selling 27,878 shares during the quarter. Ibex Wealth Advisors’ holdings in Netflix were worth $4,004,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix in the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of 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 purchasing an additional 42 shares during the period. Decker Retirement Planning Inc. bought a new position in Netflix during the 4th quarter valued at about $43,000. MidAtlantic Capital Management Inc. bought a new stake in Netflix in the third quarter worth about $37,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Netflix during the third quarter valued at approximately $38,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were 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 owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 41,601 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the completion of the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $64,435.10. This trade represents a 99.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,117 shares of company stock valued at $123,913,691. 1.76% of the stock is owned by corporate insiders.

Netflix Price Performance

Shares of Netflix stock traded up $2.33 on Wednesday, reaching $974.16. The company’s stock had a trading volume of 782,482 shares, compared to its average volume of 4,467,439. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $999.00. The company has a market capitalization of $416.41 billion, a P/E ratio of 48.99, a PEG ratio of 1.53 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $899.64 and a 200-day moving average price of $772.71.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the prior year, the business posted $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Analysts expect that Netflix, Inc. will post 23.72 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Jefferies Financial Group lifted their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Piper Sandler reissued an “overweight” rating and set a $1,100.00 price objective (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Pivotal Research upped their target price on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Citigroup lifted their price target on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Ten equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

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.