Darwin Wealth Management LLC Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

Darwin Wealth Management LLC trimmed its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 55.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,541 shares of the Internet television network's stock after selling 1,914 shares during the quarter. Darwin Wealth Management LLC's holdings in Netflix were worth $1,093,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NFLX. Retireful LLC purchased a new position in shares of Netflix during the third quarter worth approximately $640,000. Portfolio Design Labs LLC boosted its holdings in shares of Netflix by 0.7% during the 3rd quarter. Portfolio Design Labs LLC now owns 5,965 shares of the Internet television network's stock valued at $4,231,000 after buying an additional 44 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Netflix by 8.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,987 shares of the Internet television network's stock worth $1,409,000 after purchasing an additional 155 shares in the last quarter. Howe & Rusling Inc. boosted its stake in Netflix by 17.0% in the 3rd quarter. Howe & Rusling Inc. now owns 668 shares of the Internet television network's stock worth $474,000 after purchasing an additional 97 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network's stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of recent analyst reports. TD Cowen boosted their target price on Netflix from $820.00 to $835.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Barclays reissued an "underweight" rating and issued a $550.00 target price on shares of Netflix in a research report on Friday, October 18th. Macquarie reissued an "outperform" rating and issued a $795.00 target price on shares of Netflix in a research report on Friday, October 18th. Piper Sandler reaffirmed an "overweight" rating and set a $840.00 price target (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Finally, Guggenheim upped their price target on shares of Netflix from $810.00 to $825.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $758.76.

Netflix Price Performance

Shares of Netflix stock traded up $12.53 on Wednesday, reaching $883.85. The company's stock had a trading volume of 4,088,428 shares, compared to its average volume of 3,663,830. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $743.15 and a 200-day moving average price of $685.41. The company has a market capitalization of $377.81 billion, a P/E ratio of 49.36, a PEG ratio of 1.59 and a beta of 1.25. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $890.60.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 267 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now owns 31,610 shares of the company's stock, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 43,750 shares of the business's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now owns 95,040 shares in the company, valued at $65,299,132.80. This represents a 31.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,866 shares of company stock valued at $133,393,921. Insiders own 1.76% of the company's stock.

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.