Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Blue Barn Wealth LLC

Key Points

• Blue Barn Wealth LLC reduced its holdings in Netflix, Inc. by 25.2% during the first quarter, now owning 715 shares valued at $667,000.
• Netflix reported $7.19 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, with a revenue of $11.08 billion, reflecting a 15.9% year-over-year increase.
• Insiders sold a total of 151,584 shares worth approximately $185.4 million over the last 90 days, indicating significant changes in ownership by company directors.

Blue Barn Wealth LLC lowered its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 25.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 715 shares of the Internet television network's stock after selling 241 shares during the quarter. Blue Barn Wealth LLC's holdings in Netflix were worth $667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NFLX. Brighton Jones LLC lifted its position in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after acquiring an additional 257 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after purchasing an additional 144 shares during the last quarter. BIP Wealth LLC increased its holdings in shares of Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after purchasing an additional 87 shares during the last quarter. Azimuth Capital Investment Management LLC increased its holdings in shares of Netflix by 10.2% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 15,429 shares of the Internet television network's stock valued at $13,752,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Texas Yale Capital Corp. increased its holdings in shares of Netflix by 2.3% in the fourth quarter. Texas Yale Capital Corp. now owns 6,322 shares of the Internet television network's stock valued at $5,635,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Up 2.6%

NASDAQ NFLX traded up $31.27 during trading on Friday, reaching $1,211.64. 3,811,512 shares of the company's stock were exchanged, compared to its average volume of 3,961,090. The stock has a market cap of $514.86 billion, a P/E ratio of 51.63, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The company has a 50 day moving average price of $1,232.06 and a two-hundred day moving average price of $1,091.12. Netflix, Inc. has a 1 year low of $622.99 and a 1 year high of $1,341.15.

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 for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the previous year, the business earned $4.88 EPS. The business's quarterly revenue was up 15.9% on a year-over-year basis. On average, equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. KeyCorp increased their price target on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Oppenheimer increased their price target on Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Cfra Research raised Netflix to a "strong-buy" rating in a report on Monday, April 28th. Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Finally, Wells Fargo & Company raised their target price on Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,297.66.

Insiders Place Their Bets

In other news, insider Cletus R. Willems sold 238 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total value of $274,537.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 685 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,161.21, for a total value of $795,428.85. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,286,026.11. The trade was a 15.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 150,226 shares of company stock worth $183,849,784. Corporate insiders own 1.37% of the company's stock.

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.