Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 84,100 shares of the Internet television network's stock after selling 1,444 shares during the quarter. Pathstone Holdings LLC's holdings in Netflix were worth $74,934,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Netflix in the fourth quarter valued at $5,019,087,000. Proficio Capital Partners LLC lifted its position in Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after buying an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after buying an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock worth $870,752,000 after buying an additional 743,724 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after purchasing an additional 570,674 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Transactions at Netflix

In related news, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the sale, the director now owns 7,969 shares of the company's stock, valued at $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,624,746.55. This trade represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,868 shares of company stock valued at $138,483,256 over the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Up 1.2%

Shares of NASDAQ NFLX traded up $13.55 during trading hours on Friday, hitting $1,191.53. 4,681,460 shares of the stock were exchanged, compared to its average volume of 3,764,905. The company has a market cap of $507.08 billion, a PE ratio of 60.09, a PEG ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,197.39. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a fifty day moving average price of $1,003.42 and a 200-day moving average price of $942.62.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Piper Sandler set a $1,150.00 target price on Netflix and gave the company an "overweight" rating in a research note on Monday, April 21st. Needham & Company LLC reiterated a "buy" rating and set a $1,126.00 price target on shares of Netflix in a report on Thursday, April 17th. Benchmark reissued a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Netflix from $650.00 to $875.00 and gave the company a "hold" rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,093.39.

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.