SouthState Corp Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

SouthState Corp decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 29.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 232 shares of the Internet television network’s stock after selling 99 shares during the period. SouthState Corp’s holdings in Netflix were worth $165,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NFLX. DigitalBridge Group Inc. boosted its position in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after acquiring an additional 9,451 shares during the period. Natixis Advisors LLC boosted its stake 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 buying an additional 11,921 shares during the period. Venturi Wealth Management LLC grew its position in Netflix by 27.5% during the third quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock worth $2,182,000 after buying an additional 664 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Netflix by 58.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after acquiring an additional 30,511 shares during the last quarter. Finally, Forsta AP Fonden raised its holdings in shares of Netflix by 7.7% in the 3rd quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock valued at $86,105,000 after acquiring an additional 8,700 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Up 2.9 %

NFLX opened at $871.32 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 52 week low of $445.73 and a 52 week high of $874.49. The stock has a market cap of $372.45 billion, a PE ratio of 49.31, a PEG ratio of 1.59 and a beta of 1.25. The business has a 50 day moving average of $743.15 and a 200-day moving average of $685.41.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS 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 firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Equities research analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the company’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 sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy M. Haley sold 647 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $800.19, for a total value of $517,722.93. The disclosure for this sale can be found here. Insiders sold 185,277 shares of company stock worth $132,875,601 over the last quarter. 1.76% of the stock is currently owned by insiders.

Analyst Ratings Changes

NFLX has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Wedbush reiterated an “outperform” rating and issued a $950.00 target price (up from $800.00) on shares of Netflix in a research report on Monday. China Renaissance initiated coverage on Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target on the stock. Finally, Canaccord Genuity Group increased their price objective on Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $753.45.

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.