Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $1.81 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,717 shares of the Internet television network’s stock after selling 324 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Netflix were worth $1,810,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC lifted its stake in shares of Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after acquiring an additional 1,573,978 shares during the period. Northern Trust Corp boosted its stake in Netflix by 2.1% in the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock valued at $1,749,712,000 after acquiring an additional 96,938 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Netflix by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after purchasing an additional 78,298 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Netflix by 5.3% in the third quarter. Clearbridge Investments LLC now owns 2,783,694 shares of the Internet television network’s stock valued at $1,051,123,000 after buying an additional 139,165 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Netflix by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,393,628 shares of the Internet television network’s stock worth $903,834,000 after buying an additional 14,364 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Citigroup raised their price target on Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research report on Monday, March 25th. Barclays boosted their price objective on Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Canaccord Genuity Group lowered shares of Netflix from a “buy” rating to a “hold” rating and cut their price target for the company from $720.00 to $585.00 in a research note on Friday, April 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.15.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider David A. Hyman sold 268 shares of Netflix stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $18,764,328.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 3,673 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,141 shares of company stock valued at $90,796,396. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Performance

Shares of NFLX traded up $9.03 during midday trading on Tuesday, reaching $606.00. 3,608,993 shares of the stock were exchanged, compared to its average volume of 4,419,100. The stock’s 50 day simple moving average is $602.85 and its 200 day simple moving average is $531.62. The company has a market cap of $261.16 billion, a P/E ratio of 42.05, a PEG ratio of 1.40 and a beta of 1.23. Netflix, Inc. has a twelve month low of $322.03 and a twelve month high of $639.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.88 EPS. On average, sell-side analysts expect that Netflix, Inc. will post 18.3 earnings per share for the current year.

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.