Platform Technology Partners Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Platform Technology Partners reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,411 shares of the Internet television network’s stock after selling 41 shares during the quarter. Platform Technology Partners’ holdings in Netflix were worth $1,258,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NFLX. RPg Family Wealth Advisory LLC acquired a new position in Netflix in the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. grew its stake 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 buying an additional 42 shares during the last quarter. Newton One Investments LLC acquired a new position in Netflix during the fourth quarter worth approximately $34,000. MidAtlantic Capital Management Inc. purchased a new stake in Netflix in the third quarter valued at approximately $37,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Netflix in the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NFLX. Wedbush reissued an “outperform” rating and set a $1,150.00 price objective (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Citigroup lifted their price target on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Piper Sandler reaffirmed 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. Finally, StockNews.com cut shares of Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday. 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 company’s stock. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Trading Down 0.2 %

Shares of Netflix stock opened at $1,013.93 on Friday. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,027.76. The business’s fifty day moving average is $914.82 and its two-hundred day moving average is $787.62. 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 firm has a market cap of $433.72 billion, a PE ratio of 51.13, a P/E/G ratio of 2.02 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm 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 firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.11 earnings per share. Analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 4,434 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $1,015.00, for a total value of $4,500,510.00. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,144,250. This trade represents a 25.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 299,517 shares of company stock valued at $285,805,037. Insiders own 1.76% of the company’s stock.

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.