Greatmark Investment Partners Inc. Sells 4,137 Shares of Netflix, Inc. (NASDAQ:NFLX)

Greatmark Investment Partners Inc. reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 26,504 shares of the Internet television network’s stock after selling 4,137 shares during the period. Netflix comprises about 3.2% of Greatmark Investment Partners Inc.’s portfolio, making the stock its 8th largest holding. Greatmark Investment Partners Inc.’s holdings in Netflix were worth $23,624,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in NFLX. Proficio Capital Partners LLC raised its stake in Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after buying an additional 1,924,423 shares during the period. State Street Corp raised its stake in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the period. Strategic Financial Concepts LLC raised its stake in Netflix by 112,896.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock worth $340,420,000 after buying an additional 381,590 shares during the period. Jennison Associates LLC raised its stake in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in Netflix during the 3rd quarter worth approximately $222,871,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $918.00 on Friday. The firm has a market cap of $392.68 billion, a price-to-earnings ratio of 46.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The stock has a fifty day simple moving average of $951.04 and a two-hundred day simple moving average of $847.68. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. 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 (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.11 earnings per share. Analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 30,485 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the sale, the chairman now owns 394 shares in the company, valued at $386,876.48. This represents a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ann Mather sold 2,682 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock worth $279,142,041 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Guggenheim upped their price target on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and set a $1,150.00 price objective (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Robert W. Baird boosted their price objective on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $1,100.00 price objective (up from $950.00) on shares of Netflix in a 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,014.26.

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.