Platinum Investment Management Ltd. Cuts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Platinum Investment Management Ltd. decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,618 shares of the Internet television network’s stock after selling 803 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Netflix were worth $3,225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares in the last quarter. First National Trust Co boosted its stake in Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after buying an additional 12 shares in the last quarter. Haven Private LLC purchased a new stake in Netflix in the fourth quarter worth approximately $733,000. Charles Schwab Investment Management Inc. boosted its stake in Netflix by 1.2% in the third 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 buying an additional 29,726 shares in the last quarter. Finally, Sigma Planning Corp boosted its stake in Netflix by 7.4% in the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after buying an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on NFLX shares. Morgan Stanley upped their target price on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and issued a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Finally, Robert W. Baird boosted their price objective on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,016.78.

Netflix Trading Down 2.1 %

NASDAQ NFLX opened at $929.98 on Wednesday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The stock has a market cap of $397.81 billion, a P/E ratio of 46.90, a P/E/G ratio of 2.12 and a beta of 1.38. The stock’s fifty day moving average price is $953.42 and its 200-day moving average price is $853.33. 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 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 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same period last year, the firm posted $2.11 earnings per share. Netflix’s revenue was up 16.0% compared to the same quarter last year. As a group, equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In related news, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,338,500. This trade represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 288,103 shares of company stock valued at $279,142,041. 1.76% of the stock is owned by company insiders.

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.