Atria Wealth Solutions Inc. Cuts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in Netflix, Inc. by 4.8%, now holding 18,799 shares valued at approximately $17.53 million.
• Significant institutional movements include GAMMA Investing LLC drastically increasing its holdings by 109,524.3%, acquiring over 8.83 million shares worth around $8.24 billion.
• Netflix reported earnings of $7.19 per share, surpassing analyst estimates, with revenues of $11.08 billion, indicating a 15.9% year-over-year increase.

Atria Wealth Solutions Inc. trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,799 shares of the Internet television network's stock after selling 943 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Netflix were worth $17,530,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares in the last quarter. Northern Trust Corp raised its stake in Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after buying an additional 570,674 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Netflix by 935.7% during the 4th quarter. Two Sigma Advisers LP now owns 461,900 shares of the Internet television network's stock worth $411,701,000 after buying an additional 417,300 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Netflix by 42.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,387,159 shares of the Internet television network's stock worth $1,293,567,000 after acquiring an additional 410,235 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Netflix in the 4th quarter valued at about $355,076,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

NFLX opened at $1,170.99 on Tuesday. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15. The stock has a market cap of $497.59 billion, a P/E ratio of 49.89, a P/E/G ratio of 1.95 and a beta of 1.59. The stock's 50 day simple moving average is $1,234.03 and its 200 day simple moving average is $1,087.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

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

Insider Activity

In other Netflix news, Director Reed Hastings sold 26,933 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the transaction, the director owned 394 shares of the company's stock, valued at $477,394.04. This represents a 98.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the sale, the director owned 7,969 shares in the company, valued at $8,959,227.94. This trade represents a 32.97% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 146,483 shares of company stock worth $179,492,976. Corporate insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NFLX. Phillip Securities downgraded shares of Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Guggenheim reissued a "buy" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Robert W. Baird raised their target price on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Citigroup reiterated a "neutral" rating and issued a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

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.

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