Ethic Inc. Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Ethic Inc. trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,998 shares of the Internet television network's stock after selling 1,765 shares during the period. Netflix comprises 0.6% of Ethic Inc.'s portfolio, making the stock its 16th largest position. Ethic Inc.'s holdings in Netflix were worth $31,194,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. West Michigan Advisors LLC lifted its holdings in Netflix by 1.3% in the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock valued at $692,000 after acquiring an additional 10 shares during the last quarter. Warwick Investment Management Inc. raised its position in Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock valued at $266,000 after purchasing an additional 10 shares during the period. MRP Capital Investments LLC lifted its stake in shares of Netflix by 1.0% in the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after purchasing an additional 10 shares during the last quarter. Bedell Frazier Investment Counselling LLC grew its holdings in shares of Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after purchasing an additional 10 shares during the period. Finally, Mission Creek Capital Partners Inc. increased its position in shares of Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after purchasing an additional 10 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cletus R. Willems sold 298 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total value of $339,124.00. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $35,972,180. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,530 shares of company stock valued at $137,602,751 in the last ninety days. Corporate insiders own 1.76% of the company's stock.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of recent analyst reports. Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the company an "overweight" rating in a research report on Monday, April 21st. Bank of America boosted their target price on Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. FBN Securities started coverage on Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price objective for the company. Wedbush reiterated an "outperform" rating and set a $1,200.00 target price on shares of Netflix in a report on Monday, May 5th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $1,200.00 price target (up previously from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and an average target price of $1,084.91.

Netflix Stock Performance

NFLX traded down $4.62 during trading on Friday, reaching $1,139.81. The company's stock had a trading volume of 2,565,837 shares, compared to its average volume of 3,740,061. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company's fifty day moving average price is $984.97 and its 200-day moving average price is $933.06. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,164.00. The company has a market capitalization of $485.07 billion, a price-to-earnings ratio of 57.48, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58.

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

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.