Avitas Wealth Management LLC Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

Avitas Wealth Management LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,163 shares of the Internet television network’s stock after selling 49 shares during the period. Avitas Wealth Management LLC’s holdings in Netflix were worth $4,602,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Tanager Wealth Management LLP grew its holdings in Netflix by 12.7% in the 4th quarter. Tanager Wealth Management LLP now owns 319 shares of the Internet television network’s stock valued at $284,000 after buying an additional 36 shares in the last quarter. RFG Holdings Inc. grew its holdings in Netflix by 7.5% in the 4th quarter. RFG Holdings Inc. now owns 1,184 shares of the Internet television network’s stock valued at $1,055,000 after buying an additional 83 shares in the last quarter. Mather Group LLC. lifted its stake in shares of Netflix by 5.1% in the 4th quarter. Mather Group LLC. now owns 2,602 shares of the Internet television network’s stock valued at $2,319,000 after purchasing an additional 127 shares during the last quarter. Newton One Investments LLC acquired a new position in shares of Netflix in the 4th quarter valued at $34,000. Finally, Brown Lisle Cummings Inc. lifted its stake in shares of Netflix by 0.5% in the 4th quarter. Brown Lisle Cummings Inc. now owns 4,017 shares of the Internet television network’s stock valued at $3,580,000 after purchasing an additional 20 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ann Mather sold 2,682 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 32,067 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $978.39, for a total value of $31,374,032.13. Following the transaction, the chairman now owns 349 shares in the company, valued at $341,458.11. This represents a 98.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 281,026 shares of company stock worth $267,211,135 in the last quarter. 1.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NFLX shares. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and upped their price target for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Loop Capital upped their price target on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group upped their price target on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, TD Cowen upped their price target on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Trading Up 1.6 %

NFLX opened at $994.87 on Wednesday. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,008.00. The company has a market cap of $425.57 billion, a P/E ratio of 50.17, a PEG ratio of 2.02 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The business’s 50-day simple moving average is $906.93 and its 200-day simple moving average is $781.90.

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 analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the prior year, the business posted $2.11 EPS. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.