Stokes Family Office LLC Sells 28 Shares of Netflix, Inc. (NASDAQ:NFLX)

Stokes Family Office LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.4% during the fourth quarter, HoldingsChannel reports. The fund owned 1,921 shares of the Internet television network’s stock after selling 28 shares during the quarter. Stokes Family Office LLC’s holdings in Netflix were worth $1,712,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of 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 purchasing an additional 426,740 shares during the period. Geode Capital Management LLC raised its stake in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares during the period. Jennison Associates LLC raised its stake in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Netflix by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 4,527,446 shares of the Internet television network’s stock worth $4,035,404,000 after purchasing an additional 45,507 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In related news, Chairman Reed Hastings sold 30,485 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the transaction, the chairman now owns 394 shares of the company’s stock, valued at approximately $386,876.48. The trade was a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at $3,624,746.55. This trade represents a 41.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock valued at $279,142,041 over the last 90 days. 1.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NFLX shares. Loop Capital upped their target price on Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Phillip Securities lowered Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Bank of America raised their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. UBS Group reiterated a “buy” rating on shares of Netflix in a research report on Monday, March 10th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten investment 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 company’s stock. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,016.78.

Netflix Stock Performance

NFLX stock opened at $929.98 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market cap of $397.81 billion, a P/E ratio of 46.90, a P/E/G ratio of 2.12 and a beta of 1.38. The firm has a 50 day simple moving average of $953.42 and a 200 day simple moving average of $853.33. 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 quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.11 earnings per share. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.