Hollencrest Capital Management Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Hollencrest Capital Management decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,464 shares of the Internet television network’s stock after selling 195 shares during the quarter. Hollencrest Capital Management’s holdings in Netflix were worth $1,305,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NFLX. EverSource Wealth Advisors LLC raised its position in shares of Netflix by 1.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,445 shares of the Internet television network’s stock worth $3,962,000 after purchasing an additional 65 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Netflix by 14.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 14,074 shares of the Internet television network’s stock worth $12,545,000 after purchasing an additional 1,758 shares during the last quarter. Warwick Investment Management Inc. raised its position in shares of Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after purchasing an additional 10 shares during the last quarter. Summit X LLC raised its position in shares of Netflix by 5.7% during the 4th quarter. Summit X LLC now owns 710 shares of the Internet television network’s stock worth $632,000 after purchasing an additional 38 shares during the last quarter. Finally, Warburton Capital Management LLC acquired a new position in shares of Netflix during the 4th quarter worth approximately $207,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Citigroup lifted their price objective on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Oppenheimer lifted their price objective on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Guggenheim lifted their price objective on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. UBS Group reiterated a “buy” rating on shares of Netflix in a report on Monday. Finally, Phillip Securities downgraded Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,014.26.

Netflix Stock Performance

Shares of NFLX stock opened at $895.10 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The company’s 50-day simple moving average is $949.66 and its 200-day simple moving average is $845.26. The stock has a market capitalization of $382.89 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data 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. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.11 earnings per share. Equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now owns 12,950 shares in the company, valued at $12,700,583. This represents a 88.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock worth $279,142,041 over the last quarter. 1.76% of the stock is owned by company insiders.

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.