Dearborn Partners LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 14.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 700 shares of the Internet television network’s stock after selling 120 shares during the period. Dearborn Partners LLC’s holdings in Netflix were worth $308,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Barrett & Company Inc. purchased a new stake in Netflix in the first quarter worth $29,000. Retirement Group LLC grew its position in shares of Netflix by 52.6% in the 1st quarter. Retirement Group LLC now owns 87 shares of the Internet television network’s stock worth $30,000 after buying an additional 30 shares during the period. Manchester Capital Management LLC increased its stake in shares of Netflix by 8,700.0% in the 1st quarter. Manchester Capital Management LLC now owns 88 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 87 shares in the last quarter. Silicon Valley Capital Partners lifted its position in Netflix by 80.0% during the 1st quarter. Silicon Valley Capital Partners now owns 90 shares of the Internet television network’s stock valued at $31,000 after acquiring an additional 40 shares during the period. Finally, Nordwand Advisors LLC bought a new stake in Netflix during the first quarter worth about $35,000. 79.95% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently issued reports on NFLX shares. Credit Suisse Group reiterated a “neutral” rating and set a $370.00 target price on shares of Netflix in a report on Thursday, July 20th. Bank of America lifted their price objective on Netflix from $490.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Jefferies Financial Group increased their target price on Netflix from $440.00 to $520.00 in a research note on Tuesday, July 18th. Piper Sandler reduced their price target on Netflix from $440.00 to $400.00 and set a “neutral” rating for the company in a report on Wednesday, October 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Netflix from $455.00 to $480.00 and gave the stock an “overweight” rating in a research note on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $441.20.
Check Out Our Latest Research Report on NFLX
Insider Transactions at Netflix
In related news, CEO Theodore A. Sarandos sold 55,386 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $431.10, for a total transaction of $23,876,904.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Netflix news, CEO Theodore A. Sarandos sold 55,386 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $431.10, for a total value of $23,876,904.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 20,188 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $440.16, for a total transaction of $8,885,950.08. The disclosure for this sale can be found here. Insiders sold 112,760 shares of company stock valued at $48,046,739 in the last quarter. 2.45% of the stock is currently owned by corporate insiders.
Netflix Price Performance
NASDAQ NFLX opened at $397.87 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.33 and a current ratio of 1.29. The company has a market cap of $174.14 billion, a PE ratio of 39.71, a P/E/G ratio of 1.55 and a beta of 1.31. Netflix, Inc. has a 52-week low of $252.09 and a 52-week high of $485.00. The firm’s 50 day moving average price is $400.07 and its 200-day moving average price is $397.27.
Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings data on Wednesday, October 18th. The Internet television network reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.24. Netflix had a net margin of 13.82% and a return on equity of 20.68%. The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the previous year, the firm earned $3.10 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts forecast that Netflix, Inc. will post 12.08 EPS for the current fiscal year.
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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