Pacer Advisors Inc. reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.0% during the first quarter, Holdings Channel reports. The firm owned 39,463 shares of the Internet television network’s stock after selling 3,916 shares during the quarter. Pacer Advisors Inc.’s holdings in Netflix were worth $20,586,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of NFLX. Stumpf Capital Management LLC purchased a new position in Netflix during the 3rd quarter valued at $25,000. NuWave Investment Management LLC increased its position in Netflix by 411.1% during the 4th quarter. NuWave Investment Management LLC now owns 46 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 37 shares during the period. Addison Advisors LLC purchased a new position in Netflix during the 4th quarter valued at $27,000. ShoreHaven Wealth Partners LLC bought a new stake in shares of Netflix during the 4th quarter valued at $27,000. Finally, Valley Brook Capital Group bought a new stake in shares of Netflix during the 4th quarter valued at $27,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.
NFLX stock traded up $1.05 during midday trading on Thursday, hitting $548.04. The company’s stock had a trading volume of 102,369 shares, compared to its average volume of 4,692,940. Netflix, Inc. has a 12 month low of $363.03 and a 12 month high of $593.29. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $242.72 billion, a price-to-earnings ratio of 88.22, a price-to-earnings-growth ratio of 1.86 and a beta of 0.92. The company has a 50 day moving average of $526.86 and a two-hundred day moving average of $516.84.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, January 18th. The Internet television network reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.19). Netflix had a return on equity of 31.48% and a net margin of 11.78%. The business had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, analysts anticipate that Netflix, Inc. will post 6.27 earnings per share for the current fiscal year.
A number of analysts have recently commented on NFLX shares. Royal Bank of Canada restated a “buy” rating and set a $630.00 target price on shares of Netflix in a report on Wednesday, December 16th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on shares of Netflix from $450.00 to $580.00 and gave the company a “neutral” rating in a report on Thursday, January 14th. Piper Sandler assumed coverage on shares of Netflix in a report on Thursday, April 1st. They set an “overweight” rating and a $605.00 target price on the stock. Wedbush upped their price target on shares of Netflix from $235.00 to $340.00 in a research note on Wednesday, January 20th. Finally, Argus upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $650.00 price target on the stock in a research note on Monday, March 29th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the company. Netflix presently has an average rating of “Buy” and a consensus target price of $587.45.
In other news, Director Jay C. Hoag sold 3,578 shares of the stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $553.16, for a total transaction of $1,979,206.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay C. Hoag sold 974 shares of the stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $548.93, for a total value of $534,657.82. The disclosure for this sale can be found here. Insiders sold a total of 5,028 shares of company stock valued at $2,782,466 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.
Netflix, Inc provides entertainment services. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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