Synovus Financial Corp Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

Synovus Financial Corp reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 33.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,423 shares of the Internet television network’s stock after selling 4,244 shares during the quarter. Synovus Financial Corp’s holdings in Netflix were worth $7,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pathway Financial Advisers LLC increased its position in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the last quarter. Newton One Investments LLC purchased a new position in Netflix during the fourth quarter worth $34,000. Pineridge Advisors LLC increased its position in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares during the last quarter. Princeton Global Asset Management LLC raised its stake in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after acquiring an additional 16 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Netflix in the fourth quarter valued at $43,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In other news, Director Ann Mather sold 2,682 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 102,228 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. This trade represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 274,312 shares of company stock worth $267,919,297. Insiders own 1.76% of the company’s stock.

Netflix Trading Down 0.3 %

NASDAQ:NFLX opened at $918.29 on Monday. The firm has a 50 day moving average of $960.09 and a 200 day moving average of $885.47. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The stock has a market capitalization of $392.80 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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. 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 analyst estimates of $10.14 billion. During the same quarter in the prior year, the business posted $2.11 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NFLX shares. FBN Securities began coverage on shares of Netflix in a report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price target on the stock. Arete Research raised Netflix to a “hold” rating in a research note on Thursday, January 23rd. Oppenheimer raised their price target on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Moffett Nathanson raised Netflix from a “neutral” rating to a “buy” rating and upped their price objective for the company from $850.00 to $1,100.00 in a research report on Monday, March 17th. Finally, Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and lifted their target price for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,017.31.

Netflix Company 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.