Means Investment CO. Inc. cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.8% during the first quarter, Holdings Channel reports. The fund owned 1,369 shares of the Internet television network’s stock after selling 84 shares during the quarter. Means Investment CO. Inc.’s holdings in Netflix were worth $714,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of NFLX. Canandaigua National Corp bought a new stake in shares of Netflix during the 1st quarter worth $1,608,000. Fulton Bank N.A. increased its stake in shares of Netflix by 0.5% in the first quarter. Fulton Bank N.A. now owns 10,552 shares of the Internet television network’s stock valued at $5,505,000 after buying an additional 50 shares during the period. RVW Wealth LLC increased its stake in shares of Netflix by 9.1% in the first quarter. RVW Wealth LLC now owns 1,204 shares of the Internet television network’s stock valued at $1,000,000 after buying an additional 100 shares during the period. M&R Capital Management Inc. increased its stake in shares of Netflix by 10.0% in the first quarter. M&R Capital Management Inc. now owns 2,525 shares of the Internet television network’s stock valued at $1,317,000 after buying an additional 230 shares during the period. Finally, SWS Partners increased its stake in shares of Netflix by 9.6% in the fourth quarter. SWS Partners now owns 2,519 shares of the Internet television network’s stock valued at $1,362,000 after buying an additional 221 shares during the period. 79.71% of the stock is currently owned by institutional investors and hedge funds.
Netflix stock traded up $2.14 during midday trading on Thursday, hitting $549.13. 94,405 shares of the company’s stock were exchanged, compared to its average volume of 4,692,940. Netflix, Inc. has a 52-week low of $363.03 and a 52-week high of $593.29. The stock has a 50-day moving average price of $526.86 and a two-hundred day moving average price of $516.84. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $243.21 billion, a P/E ratio of 88.22, a PEG ratio of 1.86 and a beta of 0.92.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, January 18th. The Internet television network reported $1.19 EPS 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 for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. Netflix’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts expect that Netflix, Inc. will post 6.27 earnings per share for the current year.
In other Netflix news, Director Jay C. Hoag sold 974 shares of Netflix stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $548.93, for a total transaction of $534,657.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica Neal sold 476 shares of Netflix stock in a transaction dated Wednesday, January 20th. The stock was sold at an average price of $564.29, for a total value of $268,602.04. Following the sale, the insider now directly owns 476 shares of the company’s stock, valued at approximately $268,602.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,028 shares of company stock valued at $2,782,466. 3.40% of the stock is owned by company insiders.
NFLX has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on Netflix from $580.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, January 20th. Piper Sandler initiated coverage on Netflix in a research note on Thursday, April 1st. They set an “overweight” rating and a $605.00 target price for the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $630.00 target price on shares of Netflix in a research note on Wednesday, December 16th. Evercore ISI initiated coverage on Netflix in a research note on Tuesday. They set an “outperform” rating and a $665.00 target price for the company. Finally, Pivotal Research raised their target price on Netflix from $660.00 to $750.00 and gave the stock a “buy” rating in a research note on Wednesday, January 20th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have issued a buy rating to the stock. Netflix has an average rating of “Buy” and an average price target of $587.45.
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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