Rede Wealth LLC Has $1.18 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Rede Wealth LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,318 shares of the Internet television network’s stock after selling 17 shares during the period. Netflix accounts for 0.5% of Rede Wealth LLC’s holdings, making the stock its 23rd largest position. Rede Wealth LLC’s holdings in Netflix were worth $1,175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of NFLX. International Assets Investment Management LLC raised its position in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after buying an additional 642,920 shares in the last quarter. State Street Corp increased its stake in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in Netflix by 112,896.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after acquiring an additional 381,590 shares during the last quarter. Finally, Jennison Associates LLC increased its stake 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. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 48,363 shares of the company’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 sale, the chairman now owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 4,434 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,015.00, for a total transaction of $4,500,510.00. Following the completion of the sale, the chief executive officer now owns 12,950 shares in the company, valued at $13,144,250. This represents a 25.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 299,517 shares of company stock worth $285,805,037 in the last quarter. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,013.93 on Friday. The firm’s 50-day moving average price is $917.36 and its 200-day moving average price is $790.17. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,027.76. The firm has a market capitalization of $433.72 billion, a P/E ratio of 51.13, a P/E/G ratio of 2.11 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the business earned $2.11 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NFLX shares. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective on the stock in a research note on Thursday, January 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. KeyCorp lifted their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Arete Research raised shares of Netflix to a “hold” rating in a research note on Thursday, January 23rd. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

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.