Red Door Wealth Management LLC Has $2.38 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Red Door Wealth Management LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,674 shares of the Internet television network’s stock after selling 263 shares during the quarter. Red Door Wealth Management LLC’s holdings in Netflix were worth $2,383,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. DigitalBridge Group Inc. raised its holdings in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after acquiring an additional 29,726 shares during the period. Natixis Advisors LLC boosted its holdings in Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after purchasing an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Performance

NASDAQ:NFLX opened at $984.86 on Friday. The stock’s 50-day moving average is $889.11 and its 200-day moving average is $763.41. Netflix, Inc. has a 1-year low of $537.07 and a 1-year high of $999.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap of $420.99 billion, a P/E ratio of 49.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.11 EPS. Equities research analysts anticipate that Netflix, Inc. will post 23.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NFLX. Needham & Company LLC raised their target price on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday. Macquarie boosted their price target on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group boosted their price target on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Argus lifted their price target on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Ten equities research 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 MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $996.94.

Insider Buying and Selling

In other news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $772.10, for a total value of $334,319.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,500 shares of company stock valued at $123,309,210 over the last 90 days. 1.76% of the stock is owned by 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.