Atlantic Edge Private Wealth Management LLC Sells 11 Shares of Netflix, Inc. (NASDAQ:NFLX)

Atlantic Edge Private Wealth Management LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,502 shares of the Internet television network’s stock after selling 11 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in Netflix were worth $1,339,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC bought a new stake in Netflix in the 3rd quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. grew its position in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC bought a new stake in Netflix in the 4th quarter worth about $34,000. MidAtlantic Capital Management Inc. bought a new position in shares of Netflix during the 3rd quarter valued at approximately $37,000. Finally, Pineridge Advisors LLC grew its position in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares during the period. 80.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the transaction, the chief executive officer now owns 12,950 shares in the company, valued at $12,700,583. This trade represents a 88.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Barton sold 6,364 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the transaction, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This trade represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 298,870 shares of company stock worth $285,287,314. 1.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NFLX. Macquarie increased their target price on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and upped their price target for the company from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Pivotal Research upped their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, TD Cowen upped their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,027.60 on Tuesday. The firm has a 50 day moving average of $917.36 and a 200 day moving average of $792.29. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $439.57 billion, a price-to-earnings ratio of 51.82, a price-to-earnings-growth ratio of 2.11 and a beta of 1.27. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,032.85.

Netflix (NASDAQ:NFLX) last issued 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 38.32%. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the business earned $2.11 earnings per share. Netflix’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix 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.