HBK Sorce Advisory LLC Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

HBK Sorce Advisory LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,412 shares of the Internet television network's stock after selling 408 shares during the period. HBK Sorce Advisory LLC's holdings in Netflix were worth $5,715,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. West Michigan Advisors LLC increased its stake in Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock worth $692,000 after purchasing an additional 10 shares during the period. Warwick Investment Management Inc. increased its stake in Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after purchasing an additional 10 shares during the period. Enzi Wealth increased its stake in Netflix by 3.4% during the fourth quarter. Enzi Wealth now owns 331 shares of the Internet television network's stock worth $316,000 after purchasing an additional 11 shares during the period. TCI Wealth Advisors Inc. increased its stake in Netflix by 1.6% during the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network's stock worth $624,000 after purchasing an additional 11 shares during the period. Finally, Blossom Wealth Management increased its stake in shares of Netflix by 0.9% during the fourth quarter. Blossom Wealth Management now owns 1,248 shares of the Internet television network's stock worth $1,112,000 after buying an additional 11 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David A. Hyman sold 41,121 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the transaction, the insider now owns 31,610 shares of the company's stock, valued at $30,946,506.10. The trade was a 56.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets restated an "outperform" rating and set a $1,175.00 target price (up from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Macquarie upped their target price on shares of Netflix from $965.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein upgraded shares of Netflix from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $975.00 to $1,200.00 in a research note on Friday, January 24th. UBS Group restated a "buy" rating on shares of Netflix in a research note on Monday. Finally, Pivotal Research upped their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,014.26.

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Netflix Price Performance

Shares of NASDAQ NFLX opened at $919.68 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a fifty day moving average price of $950.23 and a 200 day moving average price of $845.78. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company has a market cap of $393.40 billion, a PE ratio of 46.38, a P/E/G ratio of 2.12 and a beta of 1.38.

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

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