Envestnet Asset Management Inc. Sells 50,490 Shares of Netflix, Inc. (NASDAQ:NFLX)

Envestnet Asset Management Inc. reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 601,454 shares of the Internet television network's stock after selling 50,490 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of Netflix worth $560,874,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Brighton Jones LLC raised its position in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after acquiring an additional 257 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after acquiring an additional 144 shares in the last quarter. BIP Wealth LLC increased its holdings in shares of Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after purchasing an additional 87 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Netflix by 39.1% in the fourth quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network's stock valued at $1,926,000 after purchasing an additional 607 shares during the last quarter. Finally, Welch & Forbes LLC increased its holdings in shares of Netflix by 5.8% in the fourth quarter. Welch & Forbes LLC now owns 328 shares of the Internet television network's stock valued at $292,000 after purchasing an additional 18 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NFLX shares. Robert W. Baird upped their price objective on shares of Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a report on Friday, May 16th. The Goldman Sachs Group upped 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 report on Wednesday, July 2nd. Wedbush reissued an "outperform" rating and issued a $1,200.00 target price on shares of Netflix in a report on Monday, May 5th. Needham & Company LLC reiterated a "buy" rating and issued a $1,126.00 price objective on shares of Netflix in a report on Thursday, April 17th. Finally, Guggenheim reissued a "buy" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,182.58.

Insiders Place Their Bets

In other news, Director Strive Masiyiwa sold 290 shares of Netflix stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total value of $387,596.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer 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. In the last quarter, insiders have sold 186,723 shares of company stock valued at $223,307,201. Company insiders own 1.37% of the company's stock.

Netflix Stock Up 0.8%

Netflix stock opened at $1,295.24 on Monday. 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 stock's fifty day moving average is $1,207.87 and its two-hundred day moving average is $1,038.56. The firm has a market capitalization of $551.21 billion, a price-to-earnings ratio of 61.21, a price-to-earnings-growth ratio of 2.35 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results 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. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the prior year, the business posted $8.28 earnings per share. Analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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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