Carret Asset Management LLC Cuts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Carret Asset Management LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,141 shares of the Internet television network’s stock after selling 25 shares during the quarter. Carret Asset Management LLC’s holdings in Netflix were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Investment Advisors LLC lifted its holdings in Netflix by 5.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 1,284 shares of the Internet television network’s stock worth $485,000 after buying an additional 63 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of Netflix by 21.2% during the 3rd quarter. DAVENPORT & Co LLC now owns 7,129 shares of the Internet television network’s stock worth $2,692,000 after purchasing an additional 1,247 shares in the last quarter. Strategic Blueprint LLC raised its holdings in Netflix by 5.6% during the third quarter. Strategic Blueprint LLC now owns 2,981 shares of the Internet television network’s stock worth $1,126,000 after purchasing an additional 157 shares during the last quarter. Washington Trust Advisors Inc. grew its holdings in Netflix by 10.5% during the 3rd quarter. Washington Trust Advisors Inc. now owns 369 shares of the Internet television network’s stock valued at $140,000 after buying an additional 35 shares during the last quarter. Finally, Koshinski Asset Management Inc. lifted its stake in shares of Netflix by 4.6% during the third quarter. Koshinski Asset Management Inc. now owns 2,139 shares of the Internet television network’s stock valued at $808,000 after buying an additional 95 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Rosenblatt Securities lowered their price objective on shares of Netflix from $554.00 to $540.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Piper Sandler boosted their target price on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Canaccord Genuity Group reissued a “hold” rating and set a $585.00 target price (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. Finally, Evercore ISI lifted their target price on Netflix from $640.00 to $650.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $630.58.

Netflix Trading Up 0.7 %

NASDAQ:NFLX traded up $3.82 during trading hours on Thursday, reaching $558.94. The company’s stock had a trading volume of 1,461,265 shares, compared to its average volume of 4,488,673. The firm has a market capitalization of $240.85 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 1.41 and a beta of 1.22. Netflix, Inc. has a 1 year low of $315.62 and a 1 year high of $639.00. The firm has a 50-day simple moving average of $605.56 and a 200-day simple moving average of $517.91. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same period in the previous year, the firm earned $2.88 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts expect that Netflix, Inc. will post 18.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now owns 28 shares in the company, valued at $17,091.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,106 shares of company stock valued at $92,729,716. 2.45% of the stock is currently owned by corporate insiders.

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.