HBK Sorce Advisory LLC Reduces Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

HBK Sorce Advisory LLC lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,412 shares of the Internet television network’s stock after selling 408 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Netflix were worth $5,715,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NFLX. Swedbank AB increased its position in Netflix by 1.8% during the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock worth $329,958,000 after purchasing an additional 8,024 shares in the last quarter. Principal Financial Group Inc. increased its position in Netflix by 13.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after purchasing an additional 198,148 shares in the last quarter. Savvy Advisors Inc. increased its position in Netflix by 43.5% during the 3rd quarter. Savvy Advisors Inc. now owns 953 shares of the Internet television network’s stock worth $676,000 after purchasing an additional 289 shares in the last quarter. Live Oak Investment Partners increased its position in Netflix by 1.5% during the 3rd quarter. Live Oak Investment Partners now owns 3,270 shares of the Internet television network’s stock worth $2,319,000 after purchasing an additional 49 shares in the last quarter. Finally, Future Fund LLC increased its position in Netflix by 16.4% during the 3rd quarter. Future Fund LLC now owns 2,258 shares of the Internet television network’s stock worth $1,707,000 after purchasing an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NFLX. Loop Capital lifted their price objective on Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. StockNews.com lowered Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and raised their price target for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Finally, Argus raised their price target on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,014.26.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 41,121 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $30,946,506.10. The trade was a 56.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 30,485 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total value of $29,933,831.20. Following the transaction, the chairman now owns 394 shares of the company’s stock, valued at $386,876.48. This trade represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,103 shares of company stock worth $279,142,041 in the last 90 days. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $919.68 on Thursday. The company has a market cap of $393.40 billion, a P/E ratio of 46.38, a PEG ratio of 2.12 and a beta of 1.38. 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 business’s 50-day simple moving average is $950.23 and its 200 day simple moving average is $845.78.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the business posted $2.11 EPS. The company’s revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.