Eads & Heald Wealth Management Sells 242 Shares of Netflix, Inc. (NASDAQ:NFLX)

Eads & Heald Wealth Management reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,063 shares of the Internet television network's stock after selling 242 shares during the quarter. Netflix makes up approximately 1.5% of Eads & Heald Wealth Management's holdings, making the stock its 12th biggest position. Eads & Heald Wealth Management's holdings in Netflix were worth $2,856,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC grew its stake in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in shares of Netflix during the 4th quarter worth approximately $27,000. Transce3nd LLC acquired a new stake in shares of Netflix in the 4th quarter valued at approximately $32,000. Copia Wealth Management bought a new position in shares of Netflix in the fourth quarter valued at $37,000. Finally, Stuart Chaussee & Associates Inc. increased its holdings 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 worth $41,000 after buying an additional 45 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $1,126.00 price target on shares of Netflix in a research note on Thursday, April 17th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $1,220.00 price target (up previously from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. Wells Fargo & Company increased their price target on shares of Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. UBS Group increased their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Moffett Nathanson reiterated a "buy" rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,172.73.

Netflix Price Performance

Shares of Netflix stock opened at $1,323.12 on Monday. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,331.35. 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 50-day simple moving average of $1,183.25 and a two-hundred day simple moving average of $1,024.87. The stock has a market capitalization of $563.08 billion, a price-to-earnings ratio of 62.53, a price-to-earnings-growth ratio of 2.56 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping 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 business had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter in the previous year, the company earned $8.28 EPS. Analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In other news, Chairman Reed Hastings sold 25,360 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. The trade was a 98.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the transaction, the chief financial officer now owns 3,691 shares of the company's stock, valued at $3,402,068.52. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,280 shares of company stock worth $210,599,866. 1.37% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.