Zacks Investment Management Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Zacks Investment Management decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 105,807 shares of the Internet television network's stock after selling 7,516 shares during the period. Zacks Investment Management's holdings in Netflix were worth $94,308,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NFLX. NewEdge Advisors LLC grew its position in Netflix by 7.7% in the fourth quarter. NewEdge Advisors LLC now owns 46,984 shares of the Internet television network's stock worth $41,878,000 after acquiring an additional 3,346 shares in the last quarter. Everest Management Corp. purchased a new stake in Netflix in the fourth quarter worth approximately $212,000. Main Street Financial Solutions LLC raised its stake in shares of Netflix by 117.0% during the fourth quarter. Main Street Financial Solutions LLC now owns 3,014 shares of the Internet television network's stock worth $2,686,000 after acquiring an additional 1,625 shares in the last quarter. Stenger Family Office LLC purchased a new stake in shares of Netflix in the 4th quarter valued at $3,897,000. Finally, Acorns Advisers LLC raised its position in Netflix by 3.9% in the 4th quarter. Acorns Advisers LLC now owns 583 shares of the Internet television network's stock worth $520,000 after purchasing an additional 22 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Performance

NASDAQ:NFLX traded up $11.40 during trading hours on Friday, reaching $973.03. The company had a trading volume of 8,733,404 shares, compared to its average volume of 3,672,601. The firm has a market cap of $416.22 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 2.12 and a beta of 1.55. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm's 50 day moving average price is $954.87 and its 200-day moving average price is $893.08. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the firm earned $8.28 EPS. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 25,360 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares in the company, valued at $362,933.10. This trade represents a 98.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jay C. Hoag sold 617 shares of the company's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 274,312 shares of company stock valued at $267,919,297. 1.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of recent research reports. Bank of America raised their price objective on Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Morgan Stanley lifted their target price on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. FBN Securities assumed coverage on shares of Netflix in a report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target on the stock. KeyCorp cut their target price on Netflix from $1,100.00 to $1,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, Piper Sandler began coverage on Netflix in a report on Thursday. They issued an "overweight" rating and a $1,100.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,036.38.

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.