Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Schnieders Capital Management LLC

Schnieders Capital Management LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,898 shares of the Internet television network’s stock after selling 363 shares during the quarter. Schnieders Capital Management LLC’s holdings in Netflix were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Summit Global Investments grew its holdings in Netflix by 29.0% in the third quarter. Summit Global Investments now owns 2,064 shares of the Internet television network’s stock valued at $779,000 after purchasing an additional 464 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in Netflix by 12.5% in the 3rd quarter. Douglas Lane & Associates LLC now owns 559 shares of the Internet television network’s stock valued at $211,000 after acquiring an additional 62 shares during the last quarter. Capital Investment Advisors LLC increased 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 valued at $485,000 after acquiring an additional 63 shares in the last quarter. Montecito Bank & Trust raised its position in Netflix by 56.3% during the third quarter. Montecito Bank & Trust now owns 800 shares of the Internet television network’s stock worth $302,000 after acquiring an additional 288 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Netflix by 12.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 886 shares of the Internet television network’s stock valued at $335,000 after purchasing an additional 100 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research reports. Redburn Atlantic lifted their price objective on Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Benchmark reaffirmed a “sell” rating and set a $440.00 price objective on shares of Netflix in a research note on Thursday, April 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Loop Capital raised their price target on shares of Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Piper Sandler lifted their price target on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $630.58.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction dated 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 of the company’s stock, valued at $17,091.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Netflix news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 268,335 shares of company stock valued at $151,619,811. Insiders own 2.45% of the company’s stock.

Netflix Stock Up 4.2 %

NFLX stock traded up $23.15 during midday trading on Tuesday, hitting $577.75. 4,942,177 shares of the company’s stock were exchanged, compared to its average volume of 4,517,395. The firm has a 50 day moving average price of $606.05 and a 200-day moving average price of $517.65. Netflix, Inc. has a 12-month low of $315.62 and a 12-month high of $639.00. The stock has a market capitalization of $248.95 billion, a price-to-earnings ratio of 40.09, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates 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, analysts anticipate that Netflix, Inc. will post 17.13 EPS for the current year.

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.