Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Leisure Capital Management

Leisure Capital Management trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,858 shares of the Internet television network’s stock after selling 1,085 shares during the quarter. Netflix makes up approximately 1.3% of Leisure Capital Management’s investment portfolio, making the stock its 18th largest position. Leisure Capital Management’s holdings in Netflix were worth $2,365,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Netflix by 15,039.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after acquiring an additional 2,061,859 shares in the last quarter. Jennison Associates LLC grew its position in shares of Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. Assenagon Asset Management S.A. grew its position in Netflix by 142.6% during the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after acquiring an additional 392,427 shares during the period. Alecta Tjanstepension Omsesidigt grew its position in Netflix by 171.4% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 475,000 shares of the Internet television network’s stock valued at $231,258,000 after acquiring an additional 300,000 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of Netflix in the third quarter worth about $99,219,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NASDAQ NFLX traded down $3.57 during mid-day trading on Friday, hitting $561.23. 4,332,593 shares of the company’s stock traded hands, compared to its average volume of 4,190,527. The company’s 50-day moving average is $604.54 and its two-hundred day moving average is $519.46. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.12. The company has a market capitalization of $241.83 billion, a P/E ratio of 38.95, a PEG ratio of 1.38 and a beta of 1.22. Netflix, Inc. has a 1 year low of $315.62 and a 1 year high of $639.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the prior year, the company posted $2.88 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts anticipate that Netflix, Inc. will post 18.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on NFLX. Piper Sandler upped their price objective on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley increased their price objective on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Canaccord Genuity Group lowered Netflix from a “buy” rating to a “hold” rating and cut their price objective for the stock from $720.00 to $585.00 in a report on Friday, April 19th. UBS Group increased their target price on shares of Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, Redburn Atlantic lifted their price objective on Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $630.58.

Insider Activity

In related news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 68,957 shares of Netflix stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares in the company, valued at approximately $717,379.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,573 shares of company stock worth $89,548,241. Corporate insiders own 2.45% of the company’s stock.

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.