Ellsworth Advisors LLC Lowers Holdings in Netflix, Inc. (NASDAQ:NFLX)

Ellsworth Advisors LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 50.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 831 shares of the Internet television network's stock after selling 831 shares during the quarter. Ellsworth Advisors LLC's holdings in Netflix were worth $741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AE Wealth Management LLC raised its stake in shares of Netflix by 24.3% in the 2nd quarter. AE Wealth Management LLC now owns 10,466 shares of the Internet television network's stock valued at $7,063,000 after acquiring an additional 2,044 shares during the period. Pacer Advisors Inc. raised its position in Netflix by 17.7% in the second quarter. Pacer Advisors Inc. now owns 64,556 shares of the Internet television network's stock valued at $43,568,000 after purchasing an additional 9,700 shares during the period. Thrivent Financial for Lutherans raised its position in Netflix by 26.6% in the second quarter. Thrivent Financial for Lutherans now owns 65,928 shares of the Internet television network's stock valued at $44,493,000 after purchasing an additional 13,848 shares during the period. Kowal Investment Group LLC lifted its stake in Netflix by 6.3% during the second quarter. Kowal Investment Group LLC now owns 888 shares of the Internet television network's stock worth $599,000 after purchasing an additional 53 shares in the last quarter. Finally, Circle Wealth Management LLC boosted its position in shares of Netflix by 37.0% during the second quarter. Circle Wealth Management LLC now owns 5,618 shares of the Internet television network's stock worth $3,791,000 after buying an additional 1,516 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

NASDAQ:NFLX traded up $15.73 during mid-day trading on Monday, reaching $858.10. The stock had a trading volume of 3,563,913 shares, compared to its average volume of 2,297,633. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The business has a 50 day simple moving average of $884.58 and a 200 day simple moving average of $759.58. Netflix, Inc. has a twelve month low of $476.06 and a twelve month high of $941.75. The firm has a market capitalization of $366.80 billion, a price-to-earnings ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27.

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

Analysts Set New Price Targets

Several research firms have weighed in on NFLX. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $680.00 target price on shares of Netflix in a research report on Thursday. Citigroup lifted their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a "neutral" rating in a report on Thursday, December 5th. UBS Group upped their target price on shares of Netflix from $825.00 to $1,040.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Bank of America raised their price target on shares of Netflix from $800.00 to $1,000.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Finally, Oppenheimer cut their price objective on Netflix from $1,065.00 to $1,040.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $845.06.

Insiders Place Their Bets

In other news, Director Richard N. Barton sold 5,698 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the sale, the director now owns 246 shares of the company's stock, valued at $185,976. The trade was a 95.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 41,601 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at approximately $64,435.10. This represents a 99.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,198 shares of company stock worth $127,616,898. Corporate insiders own 1.76% of the company's stock.

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.