Prosperity Wealth Management Inc. Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Prosperity Wealth Management Inc. reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 831 shares of the Internet television network’s stock after selling 19 shares during the period. Prosperity Wealth Management Inc.’s holdings in Netflix were worth $741,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Swedbank AB raised its holdings in Netflix by 1.8% in the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock valued at $329,958,000 after acquiring an additional 8,024 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after acquiring an additional 198,148 shares during the last quarter. Patten & Patten Inc. TN raised its holdings in Netflix by 7.0% in the 3rd quarter. Patten & Patten Inc. TN now owns 1,932 shares of the Internet television network’s stock valued at $1,370,000 after acquiring an additional 127 shares during the last quarter. Everhart Financial Group Inc. raised its holdings in Netflix by 17.9% in the 3rd quarter. Everhart Financial Group Inc. now owns 3,128 shares of the Internet television network’s stock valued at $2,219,000 after acquiring an additional 475 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in Netflix by 11.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 16,952 shares of the Internet television network’s stock valued at $12,023,000 after acquiring an additional 1,691 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

NFLX opened at $895.10 on Wednesday. The business’s 50 day moving average is $949.66 and its 200-day moving average is $845.26. The stock has a market cap of $382.89 billion, a PE ratio of 45.14, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.11 earnings per share. On average, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Phillip Securities cut shares of Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Morgan Stanley boosted their price objective on shares of Netflix from $1,050.00 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 stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Oppenheimer upped their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $1,014.26.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now owns 31,610 shares in the company, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 30,485 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the transaction, the chairman now owns 394 shares in the company, valued at $386,876.48. This represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock worth $279,142,041 over the last quarter. 1.76% of the stock is currently owned by company insiders.

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.