Octavia Wealth Advisors LLC Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

Octavia Wealth Advisors LLC decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 688 shares of the Internet television network’s stock after selling 19 shares during the period. Octavia Wealth Advisors LLC’s holdings in Netflix were worth $613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NFLX. International Assets Investment Management LLC lifted its position in shares of Netflix by 116,620.0% during the 3rd 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. lifted its position in shares of Netflix by 154.7% during the 3rd 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 lifted its position in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Jennison Associates LLC lifted its position in shares of 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 position in shares of Netflix during the 3rd quarter valued at approximately $222,871,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 1.3 %

Shares of NASDAQ:NFLX opened at $869.68 on Wednesday. The business has a 50-day moving average price of $885.64 and a 200 day moving average price of $760.81. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $371.75 billion, a price-to-earnings ratio of 49.22, a PEG ratio of 1.40 and a beta of 1.27. Netflix, Inc. has a 12-month low of $479.90 and a 12-month high of $941.75.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same period last year, the business posted $2.11 EPS. Netflix’s revenue for the quarter was up 16.0% on a year-over-year basis. Sell-side analysts expect that Netflix, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NFLX. TD Cowen increased their target price on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. UBS Group increased their price objective on Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Pivotal Research increased their price objective on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Rosenblatt Securities reissued a “neutral” rating and issued a $680.00 price objective on shares of Netflix in a research note on Thursday, January 16th. Finally, Guggenheim increased their price objective on Netflix from $825.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $845.06.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at $102,212.40. This trade represents a 99.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard N. Barton sold 5,698 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the transaction, the director now owns 246 shares of the company’s stock, valued at $185,976. This trade represents a 95.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock worth $127,616,898 in the last three months. 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.