Westend Capital Management LLC Trims Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Westend Capital Management LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,529 shares of the Internet television network’s stock after selling 35 shares during the period. Netflix comprises about 3.6% of Westend Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Westend Capital Management LLC’s holdings in Netflix were worth $12,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. DigitalBridge Group Inc. increased its position in Netflix by 35.5% during the 2nd 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 grew its stake in shares of Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after acquiring an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after acquiring an additional 29,726 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after purchasing an additional 11,921 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after purchasing an additional 1,684 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 48,363 shares of the firm’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 completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock worth $127,616,898 in the last three months. 1.76% of the stock is owned by insiders.

Netflix Trading Up 1.9 %

NASDAQ:NFLX opened at $858.10 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50-day simple moving average of $883.32 and a 200-day simple moving average of $757.20. Netflix, Inc. has a one year low of $476.06 and a one year high of $941.75. The firm has a market cap of $366.80 billion, a P/E ratio of 48.56, a P/E/G ratio of 1.35 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Equities analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Analyst Ratings Changes

NFLX has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on Netflix from $840.00 to $950.00 and gave the stock an “overweight” rating in a report on Tuesday. Jefferies Financial Group lifted their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their price objective on Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Canaccord Genuity Group increased their target price on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Finally, Wells Fargo & Company boosted their price target on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $845.06.

Netflix Company Profile

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.