Leo Wealth LLC Sells 1,553 Shares of Netflix, Inc. (NASDAQ:NFLX)

Leo Wealth LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 56.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,187 shares of the Internet television network's stock after selling 1,553 shares during the period. Leo Wealth LLC's holdings in Netflix were worth $1,107,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its stake in Netflix by 8.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after purchasing an additional 110,432 shares during the last quarter. PharVision Advisers LLC purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $873,000. New England Research & Management Inc. lifted its position in shares of Netflix by 148.5% in the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after acquiring an additional 1,268 shares in the last quarter. Xcel Wealth Management LLC lifted its position in shares of Netflix by 15.2% in the 1st quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network's stock valued at $459,000 after acquiring an additional 65 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Netflix by 6.1% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after acquiring an additional 3,137 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Insider Activity

In related news, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director owned 79,040 shares of the company's stock, valued at $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the sale, the director owned 7,969 shares of the company's stock, valued at approximately $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 186,723 shares of company stock worth $223,307,201. Company insiders own 1.37% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on NFLX. Wedbush restated an "outperform" rating and issued a $1,400.00 price target on shares of Netflix in a research report on Monday. Wells Fargo & Company upped 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 report on Friday, June 20th. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Rosenblatt Securities upped their price target on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a research note on Tuesday. 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 issued a strong buy rating to the stock. According to MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,227.39.

Netflix Stock Performance

Shares of NASDAQ NFLX traded down $1.68 during midday trading on Tuesday, reaching $1,260.27. The company's stock had a trading volume of 2,798,156 shares, compared to its average volume of 3,762,573. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The firm has a 50 day moving average price of $1,226.71 and a 200-day moving average price of $1,054.65. The stock has a market capitalization of $536.33 billion, a P/E ratio of 59.56, a PEG ratio of 2.28 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) 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 quarter in the prior year, the business posted $8.28 earnings per share. As a group, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current 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.