PSI Advisors LLC Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

PSI Advisors LLC decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 84.6% in the 1st quarter, Holdings Channel reports. The fund owned 63 shares of the Internet television network’s stock after selling 346 shares during the quarter. PSI Advisors LLC’s holdings in Netflix were worth $59,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Norges Bank bought a new stake in Netflix during the 4th quarter valued at $5,019,087,000. Proficio Capital Partners LLC lifted its position in shares of Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after acquiring an additional 1,924,423 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after acquiring an additional 856,307 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after acquiring an additional 743,724 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cletus R. Willems sold 298 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $35,972,180. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,140 shares of company stock worth $210,271,552. Company insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NFLX. Rosenblatt Securities boosted their price objective on Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a research note on Monday, April 21st. Guggenheim reaffirmed a “buy” rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Piper Sandler set a $1,150.00 price target on Netflix and gave the company an “overweight” rating in a research report on Monday, April 21st. Bank of America increased their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a “buy” rating in a report on Friday, May 30th. Finally, Barclays boosted their price objective on shares of Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $1,156.73.

Netflix Price Performance

Shares of Netflix stock opened at $1,222.29 on Thursday. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,262.81. The stock has a market capitalization of $520.17 billion, a price-to-earnings ratio of 57.76, a price-to-earnings-growth ratio of 2.36 and a beta of 1.59. The company has a fifty day moving average of $1,138.51 and a 200-day moving average of $1,006.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the previous year, the firm posted $8.28 earnings per share. Equities research analysts expect that Netflix, Inc. will post 24.58 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.