Opes Wealth Management LLC Trims Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Opes Wealth Management LLC trimmed its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 97.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 544 shares of the Internet television network's stock after selling 20,977 shares during the period. Opes Wealth Management LLC's holdings in Netflix were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NFLX. Authentikos Wealth Advisory LLC purchased a new stake in Netflix in the third quarter worth $25,000. Spartan Planning & Wealth Management purchased a new stake in Netflix in the third quarter worth $26,000. Carmel Capital Partners LLC boosted its holdings in Netflix by 290.0% in the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network's stock worth $30,000 after acquiring an additional 58 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in Netflix by 89.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network's stock worth $36,000 after acquiring an additional 35 shares in the last quarter. Finally, Evermay Wealth Management LLC boosted its holdings in Netflix by 94.9% in the first quarter. Evermay Wealth Management LLC now owns 115 shares of the Internet television network's stock worth $40,000 after acquiring an additional 56 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NFLX has been the topic of several analyst reports. Evercore ISI boosted their target price on Netflix from $600.00 to $640.00 and gave the stock an "outperform" rating in a report on Thursday, March 14th. Piper Sandler boosted their target price on Netflix from $550.00 to $600.00 and gave the stock a "neutral" rating in a report on Friday, April 12th. The Goldman Sachs Group boosted their target price on Netflix from $500.00 to $565.00 and gave the stock a "neutral" rating in a report on Wednesday, January 24th. Seaport Res Ptn downgraded Netflix from a "buy" rating to a "neutral" rating in a report on Tuesday, January 30th. Finally, TD Cowen upped their price target on Netflix from $600.00 to $725.00 and gave the company a "buy" rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $614.75.

Netflix Stock Performance

NFLX traded down $3.13 during midday trading on Thursday, reaching $610.56. The company had a trading volume of 8,292,291 shares, compared to its average volume of 4,290,592. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average of $604.73 and a two-hundred day moving average of $511.17. The company has a market cap of $264.23 billion, a P/E ratio of 51.53, a P/E/G ratio of 1.67 and a beta of 1.22. Netflix, Inc. has a 1 year low of $315.62 and a 1 year high of $639.00.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts' consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analysts' expectations of $9.28 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business's quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.88 earnings per share. As a group, equities research analysts predict that Netflix, Inc. will post 17.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now owns 28 shares of the company's stock, valued at approximately $17,091.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now owns 28 shares of the company's stock, valued at approximately $17,091.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 3,673 shares of Netflix stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,335 shares of company stock worth $151,619,811. 2.45% of the stock is owned by corporate insiders.

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.

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