Great Lakes Advisors LLC Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Great Lakes Advisors LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,802 shares of the Internet television network's stock after selling 2,029 shares during the period. Great Lakes Advisors LLC's holdings in Netflix were worth $22,107,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NFLX. Pathway Financial Advisers LLC grew its stake in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after purchasing an additional 14 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix in the third quarter valued at approximately $25,000. Newton One Investments LLC bought a new position in shares of Netflix in the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC increased its holdings in Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after buying an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC increased its holdings in Netflix by 51.6% in the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock valued at $42,000 after buying an additional 16 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Up 3.3 %

Netflix stock opened at $895.10 on Wednesday. The firm has a market capitalization of $382.89 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50. The firm has a 50-day moving average price of $949.66 and a two-hundred day moving average price of $845.26. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

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Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts' consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.11 earnings per share. Sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 30,485 shares of Netflix stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the transaction, the chairman now directly owns 394 shares in the company, valued at approximately $386,876.48. This represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 288,103 shares of company stock valued at $279,142,041. Insiders own 1.76% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. UBS Group reissued a "buy" rating on shares of Netflix in a report on Monday. JPMorgan Chase & Co. increased their price objective on Netflix from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. KeyCorp raised their price objective on Netflix from $1,000.00 to $1,100.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Macquarie lifted their price objective on Netflix from $965.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC lifted their target price on Netflix from $800.00 to $1,150.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,014.26.

Netflix Company 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.

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