Focus Financial Network Inc. Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

Focus Financial Network Inc. decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.7% in the fourth quarter, Holdings Channel reports. The fund owned 2,621 shares of the Internet television network’s stock after selling 46 shares during the period. Focus Financial Network Inc.’s holdings in Netflix were worth $2,336,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised its holdings in 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 acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC raised its holdings in Netflix by 1.4% in 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 last quarter. Jennison Associates LLC raised its holdings in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC raised its holdings 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 valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Netflix by 0.5% in the 3rd 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 acquiring an additional 23,702 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $1,008.08 on Wednesday. The stock has a market cap of $431.22 billion, a P/E ratio of 50.84, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. The company has a fifty day simple moving average of $919.96 and a 200-day simple moving average of $795.06. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,032.85. 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 released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the company earned $2.11 EPS. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NFLX shares. Argus raised their price target on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup raised their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Wells Fargo & Company raised their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Robert W. Baird raised their price target on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Buying and Selling

In related news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now directly owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. Insiders have sold 303,809 shares of company stock worth $290,374,484 in the last ninety days. 1.76% of the stock is owned by corporate insiders.

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.