Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 15.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,001 shares of the Internet television network's stock after selling 6,593 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Netflix were worth $33,572,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC raised its holdings in Netflix by 100.0% in 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 acquired a new stake in shares of Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new stake in Netflix during the 4th quarter valued at $32,000. Copia Wealth Management bought a new stake in shares of Netflix during the fourth quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its position in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after purchasing an additional 45 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

NFLX opened at $1,222.29 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a market cap of $520.17 billion, a price-to-earnings ratio of 57.76, a price-to-earnings-growth ratio of 2.36 and a beta of 1.59. The stock has a fifty day simple moving average of $1,138.51 and a two-hundred day simple moving average of $1,006.33. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81.

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

Insider Buying and Selling

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now owns 3,691 shares in the company, valued at $3,402,068.52. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,140 shares of company stock worth $210,271,552 in the last 90 days. Insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NFLX. UBS Group raised their target price on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Jefferies Financial Group upped their price target on shares of Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. FBN Securities assumed coverage on shares of Netflix in a report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective on the stock. Finally, Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the company an "overweight" rating in a research note on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,156.73.

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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