Sovereign Financial Group Inc. Decreases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Sovereign Financial Group Inc. reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 16.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 817 shares of the Internet television network’s stock after selling 161 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Netflix were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. Northern Trust Corp increased its stake in shares of Netflix by 2.1% during the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock valued at $1,749,712,000 after buying an additional 96,938 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Netflix by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after acquiring an additional 78,298 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Netflix by 5.3% in the third quarter. Clearbridge Investments LLC now owns 2,783,694 shares of the Internet television network’s stock worth $1,051,123,000 after acquiring an additional 139,165 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Netflix by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,439,493 shares of the Internet television network’s stock worth $1,187,740,000 after acquiring an additional 45,865 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 268 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman Reed Hastings sold 18,361 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at approximately $15,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $18,764,328.20. The disclosure for this sale can be found here. Insiders have sold a total of 157,141 shares of company stock valued at $90,796,396 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NFLX. Wells Fargo & Company upped their price objective on shares of Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Piper Sandler increased their price target on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Monday, February 26th. CICC Research initiated coverage on Netflix in a research note on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price target on the stock. Finally, Evercore ISI raised their price objective on Netflix from $640.00 to $650.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $631.15.

Netflix Stock Up 1.5 %

Shares of NFLX stock traded up $9.03 during mid-day trading on Tuesday, hitting $606.00. 3,608,993 shares of the stock traded hands, compared to its average volume of 4,419,100. The stock’s fifty day moving average is $602.85 and its two-hundred day moving average is $531.62. 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 52-week low of $322.03 and a 52-week high of $639.00. The stock has a market cap of $261.16 billion, a P/E ratio of 42.05, a P/E/G ratio of 1.40 and a beta of 1.23.

Netflix (NASDAQ:NFLX) last released 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. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.88 earnings per share. Equities analysts predict that Netflix, Inc. will post 18.3 EPS for the current year.

Netflix 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.