Axxcess Wealth Management LLC Trims Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Axxcess Wealth Management LLC lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 25,396 shares of the Internet television network’s stock after selling 279 shares during the period. Axxcess Wealth Management LLC’s holdings in Netflix were worth $22,636,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NFLX. Pathway Financial Advisers LLC raised its stake in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Netflix during the third quarter valued at approximately $25,000. Newton One Investments LLC acquired a new stake in Netflix during the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC raised its stake in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after buying an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC raised its stake in Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after buying an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NFLX. Wolfe Research upgraded Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. upped their price objective on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Needham & Company LLC upped their price objective on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Evercore ISI increased their price target on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $1,150.00 price target (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $1,016.78.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. The trade was a 88.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock valued at $279,142,041 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $950.02 on Tuesday. The stock has a fifty day moving average price of $952.40 and a two-hundred day moving average price of $851.72. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $406.38 billion, a P/E ratio of 47.91, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50.

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 business had revenue of $10.25 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $2.11 EPS. Research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.