Richard W. Paul & Associates LLC Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Richard W. Paul & Associates LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,959 shares of the Internet television network’s stock after selling 29 shares during the period. Richard W. Paul & Associates LLC’s holdings in Netflix were worth $1,746,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AMF Tjanstepension AB lifted its holdings in shares of Netflix by 7.4% in the 3rd quarter. AMF Tjanstepension AB now owns 68,460 shares of the Internet television network’s stock worth $48,557,000 after acquiring an additional 4,701 shares during the last quarter. Swedbank AB lifted its stake in Netflix by 1.8% in the third quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock worth $329,958,000 after purchasing an additional 8,024 shares during the last quarter. HM Payson & Co. boosted its position in Netflix by 5.2% during the third quarter. HM Payson & Co. now owns 1,557 shares of the Internet television network’s stock valued at $1,104,000 after buying an additional 77 shares during the period. Reston Wealth Management LLC bought a new position in shares of Netflix during the third quarter valued at about $117,000. Finally, Oak Ridge Investments LLC increased its holdings in shares of Netflix by 7.6% in the third quarter. Oak Ridge Investments LLC now owns 19,010 shares of the Internet television network’s stock worth $13,483,000 after buying an additional 1,350 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, 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 Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. Insiders have sold a total of 303,380 shares of company stock valued at $290,016,164 over the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Performance

Shares of NFLX stock opened at $980.56 on Friday. The company has a market capitalization of $419.44 billion, a price-to-earnings ratio of 49.45, a price-to-earnings-growth ratio of 2.12 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, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The company’s 50-day moving average is $947.72 and its 200 day moving average is $830.81.

Netflix (NASDAQ:NFLX) last posted its quarterly 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 net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the company posted $2.11 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NFLX. Piper Sandler restated an “overweight” rating and set a $1,100.00 target price (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Morgan Stanley increased their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group lifted their target price on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Bank of America increased their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,021.70.

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.