Providence Wealth Advisors LLC Lowers Stake in Netflix, Inc. (NASDAQ:NFLX)

Providence Wealth Advisors LLC cut its position in Netflix, Inc. (NASDAQ:NFLX) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,240 shares of the Internet television network’s stock after selling 72 shares during the period. Providence Wealth Advisors LLC’s holdings in Netflix were worth $1,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. West Michigan Advisors LLC grew its stake in Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock valued at $692,000 after purchasing an additional 10 shares during the last quarter. Warwick Investment Management Inc. raised its position in Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after buying an additional 10 shares during the last quarter. MRP Capital Investments LLC increased its stake in shares of Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock worth $938,000 after acquiring an additional 10 shares during the period. Enzi Wealth grew its position in Netflix by 3.4% during the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock worth $316,000 after purchasing an additional 11 shares during the period. Finally, TCI Wealth Advisors Inc. lifted its holdings in shares of Netflix by 1.6% in the 4th quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock valued at $624,000 after buying an additional 11 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 102,228 shares of Netflix stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now directly owns 114 shares of the company’s stock, valued at $101,241.12. The trade was a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,583 shares of company stock valued at $279,611,567 in the last quarter. 1.76% of the stock is currently owned by company insiders.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $970.65 on Thursday. 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 business’s fifty day moving average price is $967.54 and its two-hundred day moving average price is $864.18. The stock has a market cap of $415.20 billion, a PE ratio of 48.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.11 EPS. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on NFLX shares. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and lifted their price target for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Needham & Company LLC raised their price objective on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Phillip Securities cut shares of Netflix from a “hold” rating to a “moderate sell” rating in a research note on Friday, January 24th. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Guggenheim raised their price target on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,016.78.

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.