Independent Solutions Wealth Management LLC Lowers Holdings in Netflix, Inc. (NASDAQ:NFLX)

Independent Solutions Wealth Management LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.4% in the fourth quarter, Holdings Channel reports. The firm owned 2,101 shares of the Internet television network’s stock after selling 30 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Netflix were worth $1,873,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the third quarter valued at $25,000. Pathway Financial Advisers LLC raised its holdings in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. Newton One Investments LLC bought a new stake in shares of Netflix during the 4th quarter valued at about $34,000. Pineridge Advisors LLC grew its holdings in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Netflix during the third quarter worth about $38,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Down 0.9 %

NASDAQ:NFLX opened at $950.84 on Friday. The stock has a market cap of $406.73 billion, a price-to-earnings ratio of 47.95, a PEG ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average price is $956.63 and its 200-day moving average price is $854.74. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. The Goldman Sachs Group upped their target price on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and raised their price target for the company from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Finally, Arete Research upgraded Netflix to a “hold” rating in a report on Thursday, January 23rd. Ten 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 stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $1,016.78.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the transaction, the chief executive officer now owns 12,950 shares in the company, valued at approximately $12,700,583. This represents a 88.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock valued at $279,142,041 over the last ninety days. Insiders own 1.76% of the company’s stock.

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.