AdvisorNet Financial Inc Cuts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

AdvisorNet Financial Inc lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,003 shares of the Internet television network’s stock after selling 87 shares during the quarter. AdvisorNet Financial Inc’s holdings in Netflix were worth $894,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of Netflix by 116,620.0% in 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 last quarter. Assenagon Asset Management S.A. raised its stake in shares of Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after acquiring an additional 642,920 shares in the last quarter. State Street Corp boosted its stake in shares of Netflix by 2.6% in 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 buying an additional 426,740 shares during the period. Jennison Associates LLC grew its position in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Netflix during the third quarter worth approximately $222,871,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on NFLX. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Guggenheim lifted their price target on Netflix from $825.00 to $950.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. dropped their price objective on Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Rosenblatt Securities boosted their target price on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $845.82.

Netflix Price Performance

Shares of Netflix stock opened at $848.26 on Thursday. The business’s fifty day moving average price is $881.04 and its 200 day moving average price is $755.96. Netflix, Inc. has a twelve month low of $475.26 and a twelve month high of $941.75. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $362.60 billion, a P/E ratio of 48.01, a PEG ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. As a group, research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Activity at Netflix

In other news, Director Richard N. Barton sold 6,364 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 4,186 shares of Netflix stock in a transaction on Friday, October 18th. The shares were sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $9,817,500. The trade was a 24.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,742 shares of company stock worth $131,030,268. Company insiders own 1.76% of the company’s stock.

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.