Moors & Cabot Inc. Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Moors & Cabot Inc. trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,502 shares of the Internet television network’s stock after selling 12 shares during the quarter. Moors & Cabot Inc.’s holdings in Netflix were worth $1,339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Proficio Capital Partners LLC increased its stake in Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after purchasing an additional 1,924,423 shares during the period. State Street Corp grew its holdings in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in Netflix by 112,896.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after buying an additional 381,590 shares during the period. Jennison Associates LLC lifted its holdings in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Netflix in the 3rd quarter valued at about $222,871,000. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. The Goldman Sachs Group lifted their target price on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Needham & Company LLC increased their price target on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and lifted their price objective for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Finally, Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Ten 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,014.26.

Insider Buying and Selling

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the transaction, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. The trade was a 99.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is owned by company insiders.

Netflix Price Performance

Shares of NFLX opened at $890.17 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company’s fifty day moving average price is $950.30 and its 200-day moving average price is $846.09. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The firm has a market capitalization of $380.78 billion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results 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 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 previous year, the business earned $2.11 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

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.