Beacon Pointe Advisors LLC Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Beacon Pointe Advisors LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,416 shares of the Internet television network's stock after selling 947 shares during the period. Beacon Pointe Advisors LLC's holdings in Netflix were worth $11,066,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NFLX. Pathway Financial Advisers LLC grew its position in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after buying an additional 14 shares during the last quarter. Transce3nd LLC acquired a new stake in Netflix in the fourth quarter worth $32,000. Newton One Investments LLC bought a new stake in Netflix in the 4th quarter valued at about $34,000. Pineridge Advisors LLC raised its position in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after purchasing an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC lifted its stake in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock valued at $42,000 after buying an additional 16 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Stock Up 0.5 %

NFLX stock traded up $6.08 during trading on Wednesday, hitting $1,131.72. 4,253,223 shares of the stock traded hands, compared to its average volume of 3,717,453. The stock has a market cap of $481.63 billion, a price-to-earnings ratio of 57.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a 1 year low of $544.25 and a 1 year high of $1,133.09. 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 firm's 50 day moving average is $961.86 and its two-hundred day moving average is $911.84.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the prior year, the business earned $8.28 EPS. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Ratings Changes

NFLX has been the topic of several research analyst reports. Arete Research upgraded Netflix to a "hold" rating in a research note on Thursday, January 23rd. Needham & Company LLC reissued a "buy" rating and issued a $1,126.00 price objective on shares of Netflix in a report on Thursday, April 17th. Rosenblatt Securities upped their price objective on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a report on Monday, April 21st. Wolfe Research raised shares of Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price target on the stock in a research report on Thursday, January 23rd. Finally, Benchmark restated a "hold" rating on shares of Netflix in a research note on Monday, April 21st. Ten analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,072.12.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 640 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $1,097.04, for a total value of $702,105.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 102,228 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the transaction, the chief executive officer now owns 12,950 shares of the company's stock, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 274,495 shares of company stock valued at $268,176,922. 1.76% of the stock is currently owned by corporate insiders.

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.