Diversify Wealth Management LLC Has $1.71 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Diversify Wealth Management LLC trimmed its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 31.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,831 shares of the Internet television network's stock after selling 834 shares during the quarter. Diversify Wealth Management LLC's holdings in Netflix were worth $1,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC raised its position 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 valued at $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new position in Netflix during the fourth quarter valued at approximately $32,000. Copia Wealth Management bought a new position in Netflix during the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. raised its position in Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after acquiring an additional 45 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NFLX has been the topic of several recent research reports. UBS Group raised their price objective on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Guggenheim reaffirmed a "buy" rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Needham & Company LLC increased their price target on Netflix from $1,126.00 to $1,500.00 and gave the company a "buy" rating in a report on Friday. Macquarie increased their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Finally, Piper Sandler increased their price target on Netflix from $1,150.00 to $1,400.00 and gave the company an "overweight" rating in a report on Friday. One equities research 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and an average price target of $1,214.52.

Netflix Stock Performance

Netflix stock traded down $5.48 on Friday, hitting $1,245.11. The company's stock had a trading volume of 3,948,915 shares, compared to its average volume of 3,768,095. The firm has a market cap of $529.88 billion, a P/E ratio of 58.84, a price-to-earnings-growth ratio of 2.25 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $1,221.70 and a 200-day moving average price of $1,049.85. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15.

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

Insider Buying and Selling

In other news, CAO Jeffrey William Karbowski sold 620 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total value of $797,840.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Strive Masiyiwa sold 290 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total transaction of $387,596.60. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock worth $223,307,201 in the last three months. Company insiders own 1.37% of the company's stock.

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.