Cresset Asset Management LLC Trims Holdings in Netflix, Inc. (NASDAQ:NFLX)

Cresset Asset Management LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 74.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,619 shares of the Internet television network’s stock after selling 52,055 shares during the quarter. Cresset Asset Management LLC’s holdings in Netflix were worth $15,704,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pathway Financial Advisers LLC boosted its holdings in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the last quarter. Transce3nd LLC purchased a new stake in shares of Netflix during the 4th quarter valued at approximately $32,000. Newton One Investments LLC acquired a new position in Netflix in the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC grew its position in Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC increased its stake in Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after acquiring an additional 16 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 4,434 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,015.00, for a total value of $4,500,510.00. Following the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $13,144,250. The trade was a 25.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. Insiders sold a total of 137,451 shares of company stock worth $142,194,072 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Up 0.3 %

NFLX opened at $1,137.69 on Wednesday. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,159.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $484.17 billion, a P/E ratio of 57.37, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The business’s 50-day simple moving average is $974.71 and its 200-day simple moving average is $925.04.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the company posted $8.28 earnings per share. Analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several recent analyst reports. KeyCorp upped their price target on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Arete Research raised shares of Netflix to a “hold” rating in a research note on Thursday, January 23rd. Sanford C. Bernstein upgraded shares of Netflix from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $975.00 to $1,200.00 in a research report on Friday, January 24th. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the stock an “overweight” rating in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Netflix from $1,025.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,084.91.

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.