Thrive Wealth Management LLC Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Thrive Wealth Management LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.0% in the 4th quarter, HoldingsChannel reports. The firm owned 607 shares of the Internet television network’s stock after selling 19 shares during the quarter. Thrive Wealth Management LLC’s holdings in Netflix were worth $541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its holdings in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the period. Geode Capital Management LLC boosted its holdings in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after acquiring an additional 123,029 shares during the period. Jennison Associates LLC grew its position in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC increased its stake in 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 worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP lifted its position in Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

NASDAQ NFLX opened at $858.10 on Monday. The company has a 50-day moving average price of $884.58 and a 200-day moving average price of $759.04. Netflix, Inc. has a 52 week low of $476.06 and a 52 week high of $941.75. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $366.80 billion, a P/E ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27.

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

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard N. Barton sold 5,698 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the sale, the director now owns 246 shares of the company’s stock, valued at $185,976. The trade was a 95.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,198 shares of company stock valued at $127,616,898. 1.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NFLX shares. Rosenblatt Securities reiterated a “neutral” rating and set a $680.00 price target on shares of Netflix in a report on Thursday. TD Cowen upped their price objective on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Needham & Company LLC raised their target price on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Evercore ISI upped their price target on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, Benchmark increased their price objective on Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $845.06.

Netflix 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.