Netflix, Inc. (NASDAQ:NFLX) Stock Position Cut by abrdn plc

abrdn plc decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 181,067 shares of the Internet television network’s stock after selling 23,575 shares during the period. abrdn plc’s holdings in Netflix were worth $162,493,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors 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 worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of 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 valued at $34,000 after purchasing an additional 42 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix in the 3rd quarter worth $37,000. FSA Wealth Management LLC acquired a new stake in shares of Netflix in the third quarter valued at $38,000. Finally, First Personal Financial Services acquired a new position in Netflix during the third quarter worth about $40,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Up 0.2 %

Shares of NASDAQ:NFLX opened at $978.94 on Tuesday. The stock’s 50-day moving average is $904.67 and its 200-day moving average is $779.53. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $999.00. The company has a market cap of $418.75 billion, a P/E ratio of 49.37, a P/E/G ratio of 2.02 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last released 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 firm had revenue of $10.25 billion during 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 business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.11 EPS. Equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday. Citigroup boosted their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Phillip Securities lowered Netflix from a “hold” rating to a “moderate sell” rating in a research report on Friday, January 24th. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Finally, Canaccord Genuity Group raised shares of 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 analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Insiders Place Their Bets

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total transaction of $334,319.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 246,710 shares of company stock worth $233,561,836. 1.76% of the stock is currently owned by company insiders.

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.