Alliance Wealth Advisors LLC UT Decreases Stock Position in Netflix, Inc. $NFLX

Key Points

• Alliance Wealth Advisors LLC UT decreased its stake in Netflix by 32.0%, reducing its holdings to 4,180 shares worth approximately $3.9 million.
• Several hedge funds, including Boston Family Office LLC and Tocqueville Asset Management L.P., significantly increased their positions in Netflix during the first quarter, with Boston Family Office LLC increasing its stake by 650.1%.
• Netflix reported better-than-expected earnings with an EPS of $7.19 and revenue of $11.08 billion, surpassing analyst expectations and indicating a growth of 15.9% year-over-year.

Alliance Wealth Advisors LLC UT lowered its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 32.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,180 shares of the Internet television network's stock after selling 1,969 shares during the quarter. Netflix comprises about 1.0% of Alliance Wealth Advisors LLC UT's holdings, making the stock its 24th biggest holding. Alliance Wealth Advisors LLC UT's holdings in Netflix were worth $3,898,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after buying an additional 509,255 shares during the period. GAMMA Investing LLC boosted its stake in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after buying an additional 8,827,662 shares during the period. Invesco Ltd. boosted its stake in Netflix by 8.3% during the first quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock worth $4,350,083,000 after buying an additional 356,617 shares during the period. Northern Trust Corp boosted its stake in Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after buying an additional 570,674 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Netflix by 57.3% during the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after buying an additional 1,236,251 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on NFLX. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,425.00 target price (up previously from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. JPMorgan Chase & Co. increased their price target on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Barclays reissued a "sell" rating and set a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Finally, Benchmark reissued a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the sale, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the sale, the director owned 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,307 shares of company stock valued at $179,443,809. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Performance

NASDAQ:NFLX traded up $6.14 during midday trading on Monday, reaching $1,245.09. The stock had a trading volume of 2,105,084 shares, compared to its average volume of 3,364,073. The firm has a fifty day simple moving average of $1,231.23 and a two-hundred day simple moving average of $1,103.91. Netflix, Inc. has a 12-month low of $660.80 and a 12-month high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market cap of $529.08 billion, a P/E ratio of 53.05, a P/E/G ratio of 2.09 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the firm posted $4.88 EPS. Netflix's quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix 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.