Avitas Wealth Management LLC Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Avitas Wealth Management LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,163 shares of the Internet television network’s stock after selling 49 shares during the period. Avitas Wealth Management LLC’s holdings in Netflix were worth $4,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Enzi Wealth grew its stake in Netflix by 3.4% in the fourth quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock valued at $316,000 after purchasing an additional 11 shares during the last quarter. TCI Wealth Advisors Inc. grew its stake in Netflix by 1.6% in the fourth quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock valued at $624,000 after purchasing an additional 11 shares during the last quarter. Blossom Wealth Management grew its stake in Netflix by 0.9% in the fourth quarter. Blossom Wealth Management now owns 1,248 shares of the Internet television network’s stock valued at $1,112,000 after purchasing an additional 11 shares during the last quarter. Everett Harris & Co. CA grew its stake in Netflix by 1.3% in the fourth quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock valued at $775,000 after purchasing an additional 11 shares during the last quarter. Finally, Advisory Resource Group grew its stake in Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 1.6 %

Shares of NFLX stock opened at $994.87 on Wednesday. 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 company has a market cap of $425.57 billion, a price-to-earnings ratio of 50.17, a PEG ratio of 2.02 and a beta of 1.27. The stock has a 50 day simple moving average of $906.93 and a 200-day simple moving average of $781.90. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,008.00.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the prior year, the company posted $2.11 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NFLX. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Citigroup boosted their price target on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. StockNews.com lowered Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday. Arete Research upgraded Netflix to a “hold” rating in a research note on Thursday, January 23rd. Finally, KeyCorp boosted their price target on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Buying and Selling

In related news, Director Timothy M. Haley sold 647 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 2,682 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 281,026 shares of company stock worth $267,211,135. 1.76% of the stock is owned by corporate insiders.

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.