Sound Income Strategies LLC Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Sound Income Strategies LLC lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,959 shares of the Internet television network’s stock after selling 517 shares during the quarter. Sound Income Strategies LLC’s holdings in Netflix were worth $6,203,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix in the third quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Netflix during the 3rd quarter worth approximately $37,000. FSA Wealth Management LLC purchased a new position in shares of Netflix during the 3rd quarter worth approximately $38,000. Finally, First Personal Financial Services acquired a new stake in shares of Netflix in the 3rd quarter valued at approximately $40,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In other news, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now owns 246 shares of the company’s stock, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,500 shares of company stock valued at $123,309,210. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX opened at $984.86 on Friday. Netflix, Inc. has a 1 year low of $537.07 and a 1 year high of $999.00. The company’s 50 day simple moving average is $889.11 and its 200 day simple moving average is $763.41. The stock has a market capitalization of $420.99 billion, a PE ratio of 49.67, a P/E/G ratio of 1.53 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the business earned $2.11 EPS. As a group, sell-side analysts expect that Netflix, Inc. will post 23.72 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NFLX shares. Robert W. Baird upped their price objective on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday. Pivotal Research increased their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. The Goldman Sachs Group increased their target price on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Citigroup boosted their price target on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $1,009.29.

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.