Kolinsky Wealth Management LLC Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Kolinsky Wealth Management LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 733 shares of the Internet television network’s stock after selling 21 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in Netflix were worth $653,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NFLX. Vanguard Group Inc. boosted its holdings in shares of Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after acquiring an additional 171,712 shares during the period. FMR LLC grew its holdings in Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after purchasing an additional 375,234 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after acquiring an additional 175,596 shares during the last quarter. Norges Bank purchased a new stake in Netflix during the 4th quarter worth about $5,019,087,000. Finally, Alliancebernstein L.P. raised its stake in Netflix by 1.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network’s stock valued at $4,582,568,000 after purchasing an additional 82,564 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group upped their price objective on shares of Netflix from $1,200.00 to $1,380.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Moffett Nathanson reiterated a “buy” rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Oppenheimer reiterated an “outperform” rating and set a $1,200.00 price objective (up from $1,150.00) on shares of Netflix in a report on Friday, April 18th. FBN Securities initiated coverage on Netflix in a research note on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price target for the company. Finally, Pivotal Research lifted their price target on shares of Netflix from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus price target of $1,102.79.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $982.05, for a total value of $2,554,312.05. Following the completion of the transaction, the chief financial officer now owns 3,691 shares in the company, valued at $3,624,746.55. This trade represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,868 shares of company stock valued at $138,483,256 over the last three months. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX opened at $1,192.02 on Wednesday. The firm has a market capitalization of $507.29 billion, a PE ratio of 60.11, a P/E/G ratio of 2.12 and a beta of 1.58. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $1,020.82 and a 200 day moving average price of $952.98. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,196.50.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same period last year, the firm earned $8.28 EPS. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.