Van ECK Associates Corp Sells 389 Shares of Netflix, Inc. (NASDAQ:NFLX)

Van ECK Associates Corp trimmed its position in Netflix, Inc. (NASDAQ:NFLXFree Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,661 shares of the Internet television network’s stock after selling 389 shares during the period. Van ECK Associates Corp’s holdings in Netflix were worth $5,191,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Authentikos Wealth Advisory LLC bought a new stake in shares of Netflix in the third quarter valued at about $25,000. Spartan Planning & Wealth Management bought a new stake in shares of Netflix in the third quarter valued at about $26,000. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Netflix by 89.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock valued at $36,000 after purchasing an additional 35 shares in the last quarter. Carmel Capital Partners LLC lifted its holdings in shares of Netflix by 290.0% in the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 58 shares in the last quarter. Finally, Pacifica Partners Inc. bought a new stake in shares of Netflix in the fourth quarter valued at about $41,000. 80.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 18,361 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at $15,443.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Reed Hastings sold 18,361 shares of the stock in a transaction on 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 directly owns 28 shares in the company, valued at approximately $15,443.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $566.35, for a total value of $723,795.30. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $7,413,521.50. The disclosure for this sale can be found here. Insiders sold 152,833 shares of company stock worth $88,270,051 over the last three months. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent research reports. Macquarie lifted their target price on Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their target price on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Seaport Res Ptn downgraded Netflix from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 30th. Piper Sandler lifted their target price on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Pivotal Research lifted their target price on Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $631.15.

View Our Latest Stock Report on NFLX

Netflix Trading Up 2.5 %

Shares of NFLX stock opened at $579.34 on Friday. The stock has a 50 day simple moving average of $602.57 and a 200 day simple moving average of $526.33. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 1 year low of $317.95 and a 1 year high of $639.00. The stock has a market cap of $249.67 billion, a P/E ratio of 40.20, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23.

Netflix (NASDAQ:NFLXGet Free Report) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the prior year, the company earned $2.88 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts predict that Netflix, Inc. will post 18.3 earnings per share for the current fiscal year.

Netflix Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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