Argus Investors Counsel Inc. Cuts Its Holdings in Netflix, Inc.

According to its latest 13F filing with the Securities and Exchange Commission (SEC), Argus Investors Counsel Inc. has reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 17.5% during the last quarter of the year. After selling 335 shares, the fund now holds 1,584 shares of the popular streaming service. The value of Argus Investors Counsel Inc.'s holdings in Netflix is approximately $1,412,000, as indicated in their recent SEC documents.

Other Institutional Moves

Several other large investors have also adjusted their positions in Netflix recently. In the third quarter, AMF Tjanstepension AB increased its stake in Netflix by 7.4%, bringing their total to 68,460 shares, valued at $48,557,000 after acquiring an additional 4,701 shares. Similarly, Czech National Bank raised its Netflix shares by 6.5%, now owning 87,425 shares worth $62,008,000 after purchasing 5,312 more shares.

City Holding Co. made a significant increase by 2,141.4% in its stake, bringing their total to 2,219 shares valued at $1,574,000. Brookstone Capital Management raised its position by 6.4%, now holding 7,486 shares worth $5,310,000 after adding 447 shares. Talbot Financial LLC also grew its stake by 5.2%, currently owning 16,264 shares valued at $11,536,000. Overall, institutional investors and hedge funds now control 80.93% of Netflix's total stock.

Insider Selling Activity

In other news related to Netflix, insider David A. Hyman sold 41,121 shares of the company on January 30th. The shares were sold at an average price of $979.01, yielding a total value of $40,257,870. Following this sale, Hyman holds 31,610 shares worth around $30,946,506, reflecting a 56.54% decrease in ownership. Furthermore, on February 4th, CEO Gregory K. Peters sold 9,975 shares at an average price of $1,001.00, with a total transaction value of $9,984,975. After the sale, Peters now directly owns 12,950 shares, valued at approximately $12,962,950, a decrease of 43.51% in their stake. Within the past 90 days, insiders have sold 291,585 shares worth $277,777,833, with company insiders currently owning 1.76% of the stock.

Analysts' Projections for Netflix

Looking at analyst reports for Netflix's stock, several firms have updated their price targets. Pivotal Research increased its price target from $1,100.00 to $1,250.00, giving a "buy" rating on January 22nd. Deutsche Bank raised its target from $650.00 to $875.00 while maintaining a "hold" rating. Loop Capital and Piper Sandler both revised their price targets upward and reaffirmed their ratings. The consensus rating for Netflix among analysts is "Moderate Buy" with an average price target sitting at approximately $1,021.70.

Performance Overview

As of the latest trading session, shares of Netflix opened at $1,011.11. The company has a market capitalization of $432.51 billion. In its recent quarterly earnings release on January 21st, Netflix reported earnings per share (EPS) of $4.27, surpassing expectations of $4.20. The total revenue for the quarter amounted to $10.25 billion, compared to the analyst estimates of $10.14 billion. The company recorded a revenue increase of 16.0% year-over-year.

Netflix Company Insights

Netflix, Inc. provides various entertainment services, offering a wide range of TV series, documentaries, feature films, and games across different genres and languages. The platform enables members to stream content using numerous internet-connected devices, including smart TVs, digital video players, TV set-top boxes, and mobile phones.

Netflix, Investors, Shares