First Trust Advisors LP Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

First Trust Advisors LP lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 751,319 shares of the Internet television network’s stock after selling 19,769 shares during the quarter. Netflix accounts for approximately 0.6% of First Trust Advisors LP’s holdings, making the stock its 17th biggest holding. First Trust Advisors LP owned 0.18% of Netflix worth $669,665,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Generation Capital Management LLC acquired a new stake in Netflix during the 4th quarter valued at $2,088,000. GeoWealth Management LLC lifted its position in shares of Netflix by 3.5% in the fourth quarter. GeoWealth Management LLC now owns 2,849 shares of the Internet television network’s stock valued at $2,539,000 after acquiring an additional 96 shares in the last quarter. Capital International Ltd. CA lifted its position in shares of Netflix by 0.3% in the fourth quarter. Capital International Ltd. CA now owns 69,138 shares of the Internet television network’s stock valued at $61,624,000 after acquiring an additional 241 shares in the last quarter. Capital Group Private Client Services Inc. boosted its stake in shares of Netflix by 22.3% during the fourth quarter. Capital Group Private Client Services Inc. now owns 30,259 shares of the Internet television network’s stock valued at $26,970,000 after acquiring an additional 5,519 shares during the last quarter. Finally, Capital International Sarl increased its position in Netflix by 5.1% during the 4th quarter. Capital International Sarl now owns 104,420 shares of the Internet television network’s stock worth $93,072,000 after purchasing an additional 5,113 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $973.03 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $416.22 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The company’s 50-day simple moving average is $954.87 and its 200-day simple moving average is $891.82.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the previous year, the business earned $8.28 EPS. Equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Netflix from $1,150.00 to $1,025.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Moffett Nathanson restated a “buy” rating and set a $1,150.00 target price on shares of Netflix in a research report on Friday. Bank of America boosted their price target on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Wedbush restated an “outperform” rating and set a $1,150.00 price objective on shares of Netflix in a report on Friday, April 11th. Finally, Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,023.49.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,402,068.52. This trade represents a 41.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,312 shares of company stock valued at $267,919,297 over the last quarter. Insiders own 1.76% of the company’s stock.

About Netflix

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.