Netflix, Inc. (NASDAQ:NFLX) Stake Lowered by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 23.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 553 shares of the Internet television network’s stock after selling 171 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Netflix were worth $493,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Corebridge Financial Inc. raised its stake in shares of Netflix by 1.3% during the 4th quarter. Corebridge Financial Inc. now owns 145,197 shares of the Internet television network’s stock worth $129,417,000 after purchasing an additional 1,815 shares in the last quarter. Congress Wealth Management LLC DE increased its holdings in Netflix by 10.3% in the fourth quarter. Congress Wealth Management LLC DE now owns 18,924 shares of the Internet television network’s stock worth $16,868,000 after buying an additional 1,771 shares during the last quarter. Crowley Wealth Management Inc. bought a new position in Netflix during the fourth quarter valued at approximately $351,000. FCA Corp TX bought a new stake in Netflix in the fourth quarter worth approximately $246,000. Finally, Vanguard Group Inc. increased its stake in shares of Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 1.2 %

NASDAQ NFLX opened at $971.99 on Tuesday. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company has a market capitalization of $415.78 billion, a price-to-earnings ratio of 49.02, a PEG ratio of 2.12 and a beta of 1.38. The stock’s 50 day moving average is $961.71 and its two-hundred day moving average is $861.09. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NFLX shares. Moffett Nathanson raised shares of Netflix from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $850.00 to $1,100.00 in a research note on Monday, March 17th. Loop Capital boosted their price target on Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group increased their price objective on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Macquarie boosted their target price on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,016.78.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. Insiders sold 288,103 shares of company stock worth $279,142,041 in the last quarter. 1.76% of the stock is owned by corporate insiders.

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.