Cypress Point Wealth Management LLC Has $334,000 Holdings in Netflix, Inc. (NASDAQ:NFLX)

Cypress Point Wealth Management LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 28.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 375 shares of the Internet television network’s stock after selling 148 shares during the quarter. Cypress Point Wealth Management LLC’s holdings in Netflix were worth $334,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix in the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Netflix by 700.0% in the third 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 shares of Netflix in the third quarter valued at $37,000. FSA Wealth Management LLC bought a new stake in Netflix in the third quarter valued at $38,000. Finally, First Personal Financial Services bought a new stake in Netflix in the third quarter valued at $40,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jay C. Hoag sold 617 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. In the last three months, insiders sold 147,117 shares of company stock worth $123,913,691. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Performance

NFLX opened at $977.59 on Friday. The business has a fifty day simple moving average of $895.13 and a 200 day simple moving average of $766.98. The company has a market capitalization of $417.88 billion, a PE ratio of 49.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $999.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last released its 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 firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.11 EPS. Research analysts expect that Netflix, Inc. will post 23.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NFLX. The Goldman Sachs Group upped their price target on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday. Macquarie upped their price target on Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday. Loop Capital increased their target price on Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a report on Wednesday. UBS Group increased their target price on Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Citigroup increased their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

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.