Bogart Wealth LLC Has $16.29 Million Stake in Netflix, Inc. $NFLX

Key Points

• Bogart Wealth LLC reduced its stake in Netflix by 20.6% in the second quarter, bringing its total holdings to $16.29 million, which represents 0.7% of its portfolio.
• Netflix's CEO, Gregory K. Peters, sold 2,026 shares of the company's stock for approximately $2.34 million, marking a 13.68% decrease in his ownership.
• Various hedge funds have recently adjusted their positions in Netflix, with institutional investors owning 80.93% of the company's stock.

Bogart Wealth LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 20.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,165 shares of the Internet television network's stock after selling 3,156 shares during the quarter. Netflix comprises 0.7% of Bogart Wealth LLC's portfolio, making the stock its 26th biggest holding. Bogart Wealth LLC's holdings in Netflix were worth $16,291,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Optima Capital LLC increased its position in Netflix by 3.5% during the second quarter. Optima Capital LLC now owns 239 shares of the Internet television network's stock worth $320,000 after buying an additional 8 shares during the last quarter. Unified Investment Management boosted its holdings in Netflix by 1.7% during the second quarter. Unified Investment Management now owns 474 shares of the Internet television network's stock valued at $635,000 after acquiring an additional 8 shares during the period. Plancorp LLC boosted its holdings in Netflix by 0.6% during the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network's stock valued at $1,711,000 after acquiring an additional 8 shares during the period. Five Oceans Advisors boosted its holdings in Netflix by 1.1% during the second quarter. Five Oceans Advisors now owns 751 shares of the Internet television network's stock valued at $1,006,000 after acquiring an additional 8 shares during the period. Finally, Old Port Advisors boosted its holdings in Netflix by 1.3% during the second quarter. Old Port Advisors now owns 624 shares of the Internet television network's stock valued at $836,000 after acquiring an additional 8 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Netflix news, CEO Gregory K. Peters sold 2,026 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares in the company, valued at $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Hyman sold 424 shares of Netflix stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the completion of the transaction, the insider owned 31,610 shares of the company's stock, valued at $36,625,558.70. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,100 shares of company stock valued at $122,710,980. 1.37% of the stock is owned by company insiders.

Netflix Stock Up 1.3%

NASDAQ NFLX opened at $1,199.36 on Monday. The stock has a market cap of $509.64 billion, a PE ratio of 51.10, a PEG ratio of 2.02 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. Netflix, Inc. has a twelve month low of $736.23 and a twelve month high of $1,341.15. The firm has a 50-day simple moving average of $1,213.47 and a 200 day simple moving average of $1,179.41.

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

Analysts Set New Price Targets

A number of research firms have issued reports on NFLX. Morgan Stanley set a $1,500.00 price target on shares of Netflix in a report on Monday, October 13th. Needham & Company LLC restated a "buy" rating and set a $1,500.00 price target on shares of Netflix in a report on Wednesday, September 10th. Loop Capital upgraded shares of Netflix from a "hold" rating to a "buy" rating and upped their price target for the company from $1,150.00 to $1,350.00 in a report on Wednesday, September 17th. Rosenblatt Securities upped their price target on shares of Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Itau BBA Securities assumed coverage on shares of Netflix in a research note on Tuesday, October 7th. They issued an "outperform" rating and a $1,514.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,339.81.

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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