Norden Group LLC Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Norden Group LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLXFree Report) by 46.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,222 shares of the Internet television network’s stock after selling 6,384 shares during the period. Netflix makes up about 0.6% of Norden Group LLC’s holdings, making the stock its 13th largest position. Norden Group LLC’s holdings in Netflix were worth $3,516,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Atlantic Union Bankshares Corp boosted its stake in shares of Netflix by 22.1% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 3,612 shares of the Internet television network’s stock worth $1,364,000 after acquiring an additional 654 shares in the last quarter. Brookstone Capital Management raised its holdings in Netflix by 34.4% during the third quarter. Brookstone Capital Management now owns 6,514 shares of the Internet television network’s stock worth $2,617,000 after purchasing an additional 1,666 shares during the last quarter. Busey Trust CO purchased a new stake in Netflix during the third quarter worth $201,000. RMR Wealth Builders grew its holdings in Netflix by 11.7% in the third quarter. RMR Wealth Builders now owns 2,651 shares of the Internet television network’s stock valued at $1,001,000 after purchasing an additional 278 shares during the last quarter. Finally, TriaGen Wealth Management LLC purchased a new position in shares of Netflix in the third quarter valued at $703,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research reports. Evercore ISI increased their price target on shares of Netflix from $640.00 to $650.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Oppenheimer reiterated an “outperform” rating and set a $725.00 target price on shares of Netflix in a report on Friday, April 19th. Bank of America boosted their price target on Netflix from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Piper Sandler increased their price objective on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Wedbush reiterated an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $630.58.

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Netflix Trading Down 1.0 %

NFLX stock traded down $5.78 during midday trading on Tuesday, reaching $553.71. 1,465,549 shares of the company’s stock traded hands, compared to its average volume of 4,454,736. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. Netflix, Inc. has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The business has a 50-day moving average price of $604.05 and a two-hundred day moving average price of $522.96. The company has a market capitalization of $238.59 billion, a P/E ratio of 38.43, a PEG ratio of 1.37 and a beta of 1.22.

Netflix (NASDAQ:NFLXGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the previous year, the firm posted $2.88 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts forecast that Netflix, Inc. will post 18.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,573 shares of company stock worth $89,548,241. 1.76% of the stock is currently owned by corporate insiders.

Netflix Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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