Envestnet Portfolio Solutions Inc. Sells 1,949 Shares of Netflix, Inc. (NASDAQ:NFLX)

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 42,594 shares of the Internet television network’s stock after selling 1,949 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Netflix were worth $37,965,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NFLX. Pathway Financial Advisers LLC raised its stake in shares of 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 acquiring an additional 14 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix in the third quarter valued at approximately $25,000. Newton One Investments LLC bought a new position in Netflix in the 4th quarter worth approximately $34,000. Pineridge Advisors LLC lifted its holdings in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after buying an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC lifted its holdings in Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after buying an additional 16 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NFLX stock opened at $918.00 on Friday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company’s fifty day simple moving average is $951.04 and its 200-day simple moving average is $848.74. The firm has a market cap of $392.68 billion, a PE ratio of 46.29, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.11 EPS. Equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total value of $2,554,312.05. Following the completion of the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,624,746.55. This trade represents a 41.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 41,121 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now owns 31,610 shares in the company, valued at $30,946,506.10. This represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock worth $279,142,041 over the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a research report on Thursday, January 23rd. Arete Research raised shares of Netflix to a “hold” rating in a research note on Thursday, January 23rd. Evercore ISI boosted their price target on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and raised their price objective for the company from $940.00 to $1,150.00 in a research note 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,014.26.

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.