Libra Wealth LLC Sells 500 Shares of Netflix, Inc. (NASDAQ:NFLX)

Libra Wealth LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 8.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,237 shares of the Internet television network's stock after selling 500 shares during the quarter. Netflix comprises approximately 1.8% of Libra Wealth LLC's portfolio, making the stock its 15th biggest holding. Libra Wealth LLC's holdings in Netflix were worth $4,884,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. DSG Capital Advisors LLC boosted its holdings in shares of Netflix by 0.4% in the first quarter. DSG Capital Advisors LLC now owns 6,548 shares of the Internet television network's stock worth $6,106,000 after acquiring an additional 27 shares during the period. J.Safra Asset Management Corp lifted its holdings in Netflix by 74.9% during the 1st quarter. J.Safra Asset Management Corp now owns 705 shares of the Internet television network's stock worth $657,000 after purchasing an additional 302 shares in the last quarter. Altus Wealth Group LLC boosted its stake in Netflix by 1.8% in the 1st quarter. Altus Wealth Group LLC now owns 1,219 shares of the Internet television network's stock worth $1,137,000 after purchasing an additional 22 shares during the period. Red Door Wealth Management LLC boosted its stake in Netflix by 1.4% in the 1st quarter. Red Door Wealth Management LLC now owns 2,711 shares of the Internet television network's stock worth $2,528,000 after purchasing an additional 37 shares during the period. Finally, Enzi Wealth grew its holdings in Netflix by 4.2% during the 1st quarter. Enzi Wealth now owns 345 shares of the Internet television network's stock valued at $322,000 after buying an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.67, for a total transaction of $3,151,553.67. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,472,273.97. This represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Reed Hastings sold 26,933 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the transaction, the director owned 394 shares in the company, valued at approximately $477,394.04. This represents a 98.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,319 shares of company stock valued at $184,842,109. Corporate insiders own 1.37% of the company's stock.

Netflix Trading Down 3.4%

NASDAQ NFLX traded down $45.53 during trading on Tuesday, hitting $1,293.60. 4,989,809 shares of the company's stock traded hands, compared to its average volume of 3,750,394. The stock has a fifty day moving average of $1,190.27 and a two-hundred day moving average of $1,027.81. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,342.50. The firm has a market cap of $550.52 billion, a P/E ratio of 61.13, a PEG ratio of 2.56 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 released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the company posted $8.28 EPS. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of recent analyst reports. KeyCorp increased their price target on shares of Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Moffett Nathanson reaffirmed a "buy" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Piper Sandler set a $1,150.00 target price on shares of Netflix and gave the stock an "overweight" rating in a research note on Monday, April 21st. Evercore ISI restated an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Finally, UBS Group upped their price target 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. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and an average price target of $1,172.73.

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.