Dakota Wealth Management Sells 2,986 Shares of Netflix, Inc. (NASDAQ:NFLX)

Dakota Wealth Management trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,168 shares of the Internet television network's stock after selling 2,986 shares during the quarter. Netflix comprises about 0.9% of Dakota Wealth Management's investment portfolio, making the stock its 19th largest holding. Dakota Wealth Management's holdings in Netflix were worth $36,526,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC grew its stake in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC acquired a new stake in Netflix during the fourth quarter worth about $32,000. Copia Wealth Management acquired a new stake in Netflix during the fourth quarter worth about $37,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Netflix during the first quarter worth about $42,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Down 0.4%

Netflix stock opened at $1,245.11 on Monday. The firm has a 50 day moving average price of $1,221.70 and a two-hundred day moving average price of $1,050.73. The firm has a market cap of $529.88 billion, a price-to-earnings ratio of 58.84, a PEG ratio of 2.25 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same quarter in the previous year, the business posted $8.28 EPS. Equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NFLX. The Goldman Sachs Group increased their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Citigroup restated a "neutral" rating and issued a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. FBN Securities began coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target on the stock. Moffett Nathanson restated a "buy" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Finally, Needham & Company LLC raised their price target on shares of Netflix from $1,126.00 to $1,500.00 and gave the company a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,214.52.

Insider Buying and Selling

In other news, Director Reed Hastings sold 9,673 shares of Netflix stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the completion of the sale, the director owned 394 shares in the company, valued at $523,669.34. The trade was a 96.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix 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 completion of the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock worth $223,307,201 over the last ninety days. 1.37% of the stock is owned by company insiders.

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.

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