Gries Financial LLC Has $1.47 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Gries Financial LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,654 shares of the Internet television network’s stock after selling 105 shares during the period. Gries Financial LLC’s holdings in Netflix were worth $1,474,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix during the third quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Netflix by 700.0% during the 3rd 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 last quarter. MidAtlantic Capital Management Inc. purchased a new position in Netflix during the 3rd quarter worth $37,000. FSA Wealth Management LLC purchased a new position in Netflix during the 3rd quarter worth $38,000. Finally, First Personal Financial Services purchased a new position in Netflix during the 3rd quarter worth $40,000. 80.93% of the stock is owned by institutional investors.

Insider Activity at Netflix

In other news, Director Jay C. Hoag sold 617 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total transaction of $604,481.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Insiders sold a total of 147,117 shares of company stock worth $123,913,691 over the last quarter. 1.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several recent analyst reports. Pivotal Research upped their target price on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,175.00 target price (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Oppenheimer raised their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Macquarie raised their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a report on Thursday, January 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Price Performance

NFLX stock opened at $978.94 on Thursday. The firm’s 50-day moving average price is $899.64 and its two-hundred day moving average price is $772.71. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $999.00. The stock has a market capitalization of $418.46 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 1.53 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.13 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, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.11 earnings per share. As a group, equities analysts predict that Netflix, Inc. will post 23.72 earnings per share for the current 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.