SouthState Corp Lowers Holdings in Netflix, Inc. (NASDAQ:NFLX)

SouthState Corp trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 270 shares of the Internet television network’s stock after selling 27 shares during the period. SouthState Corp’s holdings in Netflix were worth $131,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of NFLX. Authentikos Wealth Advisory LLC acquired a new position in shares of Netflix in the 3rd quarter valued at $25,000. Spartan Planning & Wealth Management acquired a new position in shares of Netflix in the third quarter worth about $26,000. Carmel Capital Partners LLC boosted its stake in shares of Netflix by 290.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 58 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its position in shares of Netflix by 89.7% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock valued at $36,000 after acquiring an additional 35 shares during the period. Finally, Pacifica Partners Inc. purchased a new position in shares of Netflix in the 4th quarter valued at about $41,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Seaport Res Ptn lowered Netflix from a “buy” rating to a “neutral” rating in a report on Tuesday, January 30th. Piper Sandler upped their price objective on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Canaccord Genuity Group lowered shares of Netflix from a “buy” rating to a “hold” rating and dropped their target price for the company from $720.00 to $585.00 in a research report on Friday, April 19th. DZ Bank upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $600.00 price target for the company in a research report on Thursday, January 25th. Finally, Loop Capital boosted their price objective on Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $631.15.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction dated 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 of the company’s stock, valued at approximately $15,443.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Anne M. Sweeney sold 633 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total value of $354,480.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 18,361 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were 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 of the company’s stock, valued at $15,443.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,833 shares of company stock worth $88,270,051. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Up 2.5 %

NASDAQ NFLX traded up $14.19 during trading hours on Friday, hitting $579.34. 3,307,524 shares of the company were exchanged, compared to its average volume of 4,520,712. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm has a market cap of $249.67 billion, a price-to-earnings ratio of 40.20, a PEG ratio of 1.37 and a beta of 1.23. The company has a 50 day moving average of $602.66 and a two-hundred day moving average of $524.81. Netflix, Inc. has a 52-week low of $317.95 and a 52-week high of $639.00.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter last year, the company earned $2.88 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that Netflix, Inc. will post 18.3 earnings per share for the current year.

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.