Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Rede Wealth LLC

Rede Wealth LLC trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,318 shares of the Internet television network’s stock after selling 17 shares during the period. Netflix makes up about 0.5% of Rede Wealth LLC’s portfolio, making the stock its 23rd largest holding. Rede Wealth LLC’s holdings in Netflix were worth $1,175,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after acquiring an additional 123,029 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC raised its stake in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP raised its stake in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Strive Masiyiwa sold 2,813 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 4,434 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $1,015.00, for a total value of $4,500,510.00. Following the completion of the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $13,144,250. The trade was a 25.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 299,517 shares of company stock worth $285,805,037. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $1,013.93 on Friday. The stock has a 50-day moving average price of $917.36 and a two-hundred day moving average price of $790.17. The stock has a market cap of $433.72 billion, a PE ratio of 51.13, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,027.76.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NFLX shares. Pivotal Research boosted their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Wedbush reaffirmed an “outperform” rating and issued a $1,150.00 price target (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 price target (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, 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 note on Thursday, January 23rd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

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.