AXS Investments LLC Cuts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• AXS Investments LLC reduced its stake in Netflix by 14.5%, now holding approximately 5,964 shares valued at $5.56 million, making it the fund's 9th largest position.
• Insider trading activity shows that Netflix Director Jay C. Hoag and CFO Spencer Adam Neumann sold significant shares, with Hoag's transaction decreasing his ownership by 33.5% and Neumann's by 41.34%.
• Netflix reported a quarterly earnings of $7.19 per share, surpassing estimates and reflecting a 15.9% revenue increase year-over-year, with a current market cap of $487.76 billion.

AXS Investments LLC reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 14.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,964 shares of the Internet television network's stock after selling 1,015 shares during the period. Netflix comprises 1.5% of AXS Investments LLC's investment portfolio, making the stock its 9th largest holding. AXS Investments LLC's holdings in Netflix were worth $5,562,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NFLX. Fullcircle Wealth LLC lifted its position in Netflix by 2.5% in the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after acquiring an additional 9 shares during the last quarter. Mission Creek Capital Partners Inc. grew its position in Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after buying an additional 10 shares during the period. Continuum Wealth Advisors LLC increased its position in shares of Netflix by 4.4% in the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after buying an additional 10 shares in the last quarter. Financial Enhancement Group LLC raised its position in shares of Netflix by 2.5% during the 1st quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after purchasing an additional 10 shares during the last quarter. Finally, Saxony Capital Management LLC lifted its holdings in Netflix by 1.4% in the 1st quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock valued at $659,000 after purchasing an additional 10 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Up 0.2%

NFLX stock traded up $1.89 during trading on Thursday, reaching $1,180.37. The stock had a trading volume of 2,625,184 shares, compared to its average volume of 4,041,499. The company has a market capitalization of $501.57 billion, a P/E ratio of 50.29, a PEG ratio of 1.98 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average price of $1,232.06 and a 200 day moving average price of $1,091.12. Netflix, Inc. has a 1-year low of $616.02 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business 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 firm earned $4.88 earnings per share. The business's revenue was up 15.9% compared to the same quarter last year. On average, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Cfra Research raised Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Sanford C. Bernstein increased their target price on Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. The Goldman Sachs Group raised their price target on Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Wall Street Zen raised shares of Netflix from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 424 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the sale, the insider owned 31,610 shares in the company, valued at $36,625,558.70. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the transaction, the chief executive officer directly owned 15,168 shares in the company, valued at approximately $17,604,284.16. This represents a 11.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 151,584 shares of company stock worth $185,411,484. Company insiders own 1.37% of the company's stock.

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.