Transcend Capital Advisors LLC Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Transcend Capital Advisors LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 8.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,587 shares of the Internet television network’s stock after selling 338 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Netflix were worth $3,197,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NFLX. RPg Family Wealth Advisory LLC purchased a new position in Netflix in the third quarter worth approximately $25,000. Pathway Financial Advisers LLC grew its position in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its position in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC purchased a new position in Netflix in the fourth quarter worth approximately $34,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Netflix in the third quarter worth approximately $37,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of NFLX stock opened at $1,024.54 on Friday. The stock’s 50-day moving average is $938.86 and its two-hundred day moving average is $815.63. The firm has a market cap of $438.26 billion, a price-to-earnings ratio of 51.67, a PEG ratio of 2.16 and a beta of 1.27. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last issued 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. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.11 earnings per share. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research reports. Morgan Stanley upped their price target on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $1,100.00 price target (up from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. The Goldman Sachs Group upped their price target on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Wolfe Research upgraded Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target on the stock in a research note on Thursday, January 23rd. Finally, Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

Insider Buying and Selling

In related news, Director Strive Masiyiwa sold 2,813 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 4,939 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the completion of the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. The trade was a 27.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,220 shares of company stock valued at $289,856,164 over the last quarter. 1.76% of the stock is currently owned by 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.