Octavia Wealth Advisors LLC Lowers Stake in Netflix, Inc. (NASDAQ:NFLX)

Octavia Wealth Advisors LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 21.3% during the 4th quarter, HoldingsChannel reports. The fund owned 758 shares of the Internet television network’s stock after selling 205 shares during the period. Octavia Wealth Advisors LLC’s holdings in Netflix were worth $369,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Regent Peak Wealth Advisors LLC boosted its position in Netflix by 1.6% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 1,304 shares of the Internet television network’s stock valued at $635,000 after buying an additional 21 shares during the period. Centurion Wealth Management LLC lifted its position in shares of 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 purchasing an additional 23 shares during the last quarter. Secure Asset Management LLC lifted its position in shares of Netflix by 2.7% during the 4th quarter. Secure Asset Management LLC now owns 903 shares of the Internet television network’s stock worth $440,000 after purchasing an additional 24 shares during the last quarter. Gordian Capital Singapore Pte Ltd lifted its position in shares of Netflix by 0.3% during the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 9,821 shares of the Internet television network’s stock worth $4,326,000 after purchasing an additional 25 shares during the last quarter. Finally, Key Financial Inc lifted its position in shares of Netflix by 14.4% during the 3rd quarter. Key Financial Inc now owns 199 shares of the Internet television network’s stock worth $75,000 after purchasing an additional 25 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 1.7 %

NFLX stock opened at $617.52 on Wednesday. The company has a market cap of $267.24 billion, a P/E ratio of 51.42, a P/E/G ratio of 1.64 and a beta of 1.22. Netflix, Inc. has a 52 week low of $315.62 and a 52 week high of $639.00. The company’s 50-day moving average price is $603.65 and its 200 day moving average price is $510.44. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The company had revenue of $8.83 billion for the quarter, compared to analysts’ expectations of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.12 EPS. On average, research analysts expect that Netflix, Inc. will post 17.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the subject of several recent analyst reports. Piper Sandler lifted their price objective on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Pivotal Research lifted their price objective on shares of Netflix from $700.00 to $765.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Barclays lifted their price objective on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Redburn Atlantic lifted their price objective on shares of Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $603.48.

Insider Buying and Selling

In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the company’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 sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,181,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the sale, the chief executive officer now directly owns 1,278 shares in the company, valued at approximately $717,379.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 268,335 shares of company stock valued at $151,619,811. Corporate insiders own 2.45% of the company’s stock.

Netflix Company 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.