Hohimer Wealth Management LLC Sells 1,008 Shares of Netflix, Inc. (NASDAQ:NFLX)

Hohimer Wealth Management LLC cut its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 63.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 585 shares of the Internet television network's stock after selling 1,008 shares during the quarter. Hohimer Wealth Management LLC's holdings in Netflix were worth $546,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after purchasing an additional 144 shares in the last quarter. BIP Wealth LLC grew its position 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 in the last quarter. Proficio Capital Partners LLC grew its position 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 in the last quarter. Finally, one8zero8 LLC purchased a new position in shares of Netflix in the fourth quarter valued at $536,000. 80.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,179,614.58. This represents a 41.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the transaction, the director directly owned 7,969 shares of the company's stock, valued at $8,959,227.94. The trade was a 32.97% 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. 1.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NFLX shares. Piper Sandler lifted their price target on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research report on Friday. Macquarie lifted their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Bank of America boosted their target price on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Guggenheim restated a "buy" rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Wells Fargo & Company boosted their target price on Netflix from $1,222.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and an average price target of $1,273.48.

Netflix Trading Down 5.1%

Shares of NASDAQ NFLX traded down $64.91 during midday trading on Friday, reaching $1,209.26. The company had a trading volume of 8,636,128 shares, compared to its average volume of 3,794,917. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. 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 firm's fifty day moving average price is $1,231.20 and its 200-day moving average price is $1,058.57. The stock has a market cap of $514.62 billion, a PE ratio of 57.19, a price-to-earnings-growth ratio of 2.26 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the previous year, the company posted $4.88 EPS. Netflix's revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

About Netflix

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.