Wrapmanager Inc. Sells 96 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wrapmanager Inc. lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,683 shares of the Internet television network’s stock after selling 96 shares during the period. Wrapmanager Inc.’s holdings in Netflix were worth $2,392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix in the third quarter worth approximately $25,000. Pathway Financial Advisers LLC lifted its stake in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the last quarter. 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 valued at $34,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC purchased a new position in Netflix in the 4th quarter worth about $34,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix during the third quarter valued at approximately $37,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 303,220 shares of company stock worth $289,856,164 in the last quarter. 1.76% of the stock is owned by company insiders.

Netflix Trading Down 1.5 %

Netflix stock opened at $988.47 on Tuesday. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. The stock has a market capitalization of $422.82 billion, a PE ratio of 49.85, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. The firm has a 50 day simple moving average of $941.89 and a 200-day simple moving average of $823.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last posted 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. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the firm posted $2.11 EPS. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on NFLX shares. JPMorgan Chase & Co. boosted their price target on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and set a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Oppenheimer raised their target price 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. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $715.00 to $900.00 in a report on Wednesday, January 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $1,100.00 price target (up from $950.00) on shares of Netflix in a 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

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.