Parcion Private Wealth LLC Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Parcion Private Wealth LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 15.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,660 shares of the Internet television network’s stock after selling 300 shares during the period. Parcion Private Wealth LLC’s holdings in Netflix were worth $1,480,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after acquiring an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Netflix by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares in the last quarter. Natixis Advisors LLC lifted its stake in Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after purchasing an additional 11,921 shares in the last quarter. M&T Bank Corp raised its position in shares of Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares in the last quarter. Finally, Quilter Plc raised its position in shares of Netflix by 8.2% during the 4th quarter. Quilter Plc now owns 143,757 shares of the Internet television network’s stock valued at $128,133,000 after buying an additional 10,946 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 41,121 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,220 shares of company stock worth $289,856,164 over the last three months. 1.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NFLX has been the topic of a number of research analyst reports. Robert W. Baird upped their target price on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Phillip Securities downgraded shares of Netflix from a “hold” rating to a “moderate sell” rating in a research report on Friday, January 24th. Macquarie lifted their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price for the company in a research note on Thursday, January 23rd. Finally, Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and boosted their target price for the company from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Netflix Trading Up 0.7 %

NASDAQ:NFLX opened at $1,043.33 on Thursday. The stock’s 50 day moving average price is $936.88 and its 200 day moving average price is $814.17. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The company has a market capitalization of $446.29 billion, a P/E ratio of 52.61, a P/E/G ratio of 2.15 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.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.11 earnings per share. On average, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

About Netflix

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.