New York Life Investment Management LLC Lowers Holdings in Netflix, Inc. (NASDAQ:NFLX)

New York Life Investment Management LLC decreased its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,281 shares of the Internet television network’s stock after selling 1,233 shares during the quarter. New York Life Investment Management LLC’s holdings in Netflix were worth $30,323,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NFLX. Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix in the third quarter worth about $25,000. Spartan Planning & Wealth Management acquired a new position in Netflix in the 3rd quarter worth about $26,000. Carmel Capital Partners LLC raised its holdings in Netflix by 290.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 58 shares during the period. Blue Bell Private Wealth Management LLC raised its holdings in Netflix by 89.7% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock worth $36,000 after purchasing an additional 35 shares during the period. Finally, Pacifica Partners Inc. acquired a new position in Netflix in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX traded up $1.07 during midday trading on Wednesday, reaching $551.71. 3,449,554 shares of the stock were exchanged, compared to its average volume of 4,466,529. The business’s 50-day moving average price is $603.56 and its 200 day moving average price is $524.34. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. Netflix, Inc. has a twelve month low of $315.62 and a twelve month high of $639.00. The company has a market capitalization of $237.73 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 1.37 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts expect that Netflix, Inc. will post 18.13 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 20,734 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $567.16, for a total value of $11,759,495.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman Reed Hastings sold 20,734 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $567.16, for a total value of $11,759,495.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were 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 owns 31,610 shares in the company, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. Insiders have sold 154,573 shares of company stock worth $89,548,241 in the last quarter. Company insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $713.00 price target (up previously from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $725.00 price target on shares of Netflix in a report on Friday, April 19th. DZ Bank raised Netflix from a “hold” rating to a “buy” rating and set a $600.00 target price for the company in a report on Thursday, January 25th. Wells Fargo & Company increased their target price on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Loop Capital increased their target price on Netflix from $585.00 to $700.00 and gave the company a “buy” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $630.58.

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.