Greatmark Investment Partners Inc. Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Greatmark Investment Partners Inc. reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,089 shares of the Internet television network's stock after selling 1,789 shares during the quarter. Netflix accounts for approximately 2.8% of Greatmark Investment Partners Inc.'s holdings, making the stock its 12th largest holding. Greatmark Investment Partners Inc.'s holdings in Netflix were worth $17,571,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. KFA Private Wealth Group LLC grew its stake in shares of Netflix by 1.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network's stock valued at $466,000 after purchasing an additional 18 shares during the period. Addison Advisors LLC lifted its stake in shares of Netflix by 7.8% in the 4th quarter. Addison Advisors LLC now owns 276 shares of the Internet television network's stock valued at $134,000 after purchasing an additional 20 shares during the period. Regent Peak Wealth Advisors LLC raised its stake in Netflix by 1.6% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 1,304 shares of the Internet television network's stock worth $635,000 after buying an additional 21 shares during the period. Capital Advisors Ltd. LLC raised its stake in Netflix by 5.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 393 shares of the Internet television network's stock worth $191,000 after buying an additional 22 shares during the period. Finally, Centurion Wealth Management LLC raised its stake in Netflix by 2.4% during the 4th quarter. Centurion Wealth Management LLC now owns 984 shares of the Internet television network's stock worth $479,000 after buying an additional 23 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

NFLX stock traded down $1.74 during mid-day trading on Monday, hitting $559.49. 2,507,604 shares of the company were exchanged, compared to its average volume of 4,492,389. The business has a 50 day simple moving average of $604.54 and a 200-day simple moving average of $521.57. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $241.08 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 1.37 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 data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $2.88 earnings per share. On average, equities analysts forecast that Netflix, Inc. will post 18.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 267 shares of the business's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the transaction, the insider now owns 31,610 shares of the company's stock, valued at $17,575,476.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the firm's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company's stock, valued at approximately $8,181,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 267 shares of the firm's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The disclosure for this sale can be found here. Insiders have sold a total of 154,573 shares of company stock worth $89,548,241 in the last 90 days. Company insiders own 1.76% of the company's stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research analyst reports. StockNews.com raised Netflix from a "hold" rating to a "buy" rating in a research note on Monday, February 26th. Guggenheim raised their price objective on Netflix from $600.00 to $700.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. UBS Group lifted their price target on Netflix from $570.00 to $685.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. Rosenblatt Securities dropped their price target on Netflix from $554.00 to $540.00 and set a "neutral" rating on the stock in a research note on Friday, April 19th. Finally, Loop Capital lifted their price target on Netflix from $585.00 to $700.00 and gave the company a "buy" rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $630.58.

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.