Axxcess Wealth Management LLC Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Axxcess Wealth Management LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,396 shares of the Internet television network’s stock after selling 279 shares during the quarter. 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 have also recently modified their holdings of the business. State Street Corp boosted its stake 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 valued at $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Netflix by 1.4% in the third 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 buying an additional 123,029 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares in the last quarter. Wellington Management Group LLP boosted its position in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in Netflix by 1.0% during the fourth quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock worth $4,035,404,000 after purchasing an additional 45,507 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of research analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $1,175.00 target price (up from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Robert W. Baird boosted their target price on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Guggenheim boosted their target price on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $1,016.78.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now directly owns 114 shares of the company’s stock, valued at $101,241.12. The trade was a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,103 shares of company stock valued at $279,142,041 over the last quarter. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $950.02 on Tuesday. The stock has a 50-day moving average price of $952.40 and a two-hundred day moving average price of $851.72. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $406.38 billion, a PE ratio of 47.91, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the previous year, the business earned $2.11 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

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.