Del Sette Capital Management LLC Sells 864 Shares of Netflix, Inc. (NASDAQ:NFLX)

Del Sette Capital Management LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 24.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,696 shares of the Internet television network's stock after selling 864 shares during the quarter. Netflix accounts for about 2.0% of Del Sette Capital Management LLC's portfolio, making the stock its 19th largest position. Del Sette Capital Management LLC's holdings in Netflix were worth $2,514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fullcircle Wealth LLC boosted its stake in Netflix by 2.5% in the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after acquiring an additional 9 shares during the last quarter. Bedell Frazier Investment Counselling LLC boosted its stake in Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after acquiring an additional 10 shares during the last quarter. Mission Creek Capital Partners Inc. boosted its position in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after purchasing an additional 10 shares in the last quarter. Continuum Wealth Advisors LLC boosted its position in shares of Netflix by 4.4% during the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after purchasing an additional 10 shares in the last quarter. Finally, Financial Enhancement Group LLC raised its holdings in shares of Netflix by 2.5% during the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after acquiring an additional 10 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Trading Down 5.1%

Shares of NFLX opened at $1,209.24 on Friday. The firm has a market cap of $514.62 billion, a price-to-earnings ratio of 51.52, a PEG ratio of 2.19 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 fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The firm has a 50 day moving average price of $1,232.59 and a 200-day moving average price of $1,061.94.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 43.00%. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $4.88 earnings per share. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

NFLX has been the subject of several research analyst reports. TD Cowen lifted their target price on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a report on Friday. Loop Capital restated a "hold" rating on shares of Netflix in a research report on Tuesday. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Piper Sandler upped their price objective on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday. Finally, UBS Group reissued a "market underperform" rating on shares of Netflix in a research note on Saturday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,291.41.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,824,949.02. The trade was a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reed Hastings sold 16,840 shares of Netflix stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,295.78, for a total value of $21,820,935.20. Following the completion of the transaction, the director owned 10,067 shares in the company, valued at $13,044,617.26. This trade represents a 62.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,723 shares of company stock worth $223,307,201. Insiders own 1.37% of the company's stock.

Netflix Company 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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