Fi3 FINANCIAL ADVISORS LLC Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Fi3 FINANCIAL ADVISORS LLC has reduced its stake in Netflix, Inc. by 22.4%, owning 962 shares valued at approximately $897,000 after selling 277 shares.
• Insiders, including CFO Spencer Neumann and Director Jay C. Hoag, have recently sold significant amounts of stock, with Neumann selling 2,601 shares and Hoag selling 31,750 shares, resulting in a 41.34% and 33.50% decrease in their respective ownerships.
• Analysts maintain a consensus rating of "Moderate Buy" for Netflix, with a target price averaging $1,297.66 while the stock currently trades around $1,147.87.

Fi3 FINANCIAL ADVISORS LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 22.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 962 shares of the Internet television network's stock after selling 277 shares during the period. Fi3 FINANCIAL ADVISORS LLC's holdings in Netflix were worth $897,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NFLX. Vanguard Group Inc. increased its stake in Netflix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after purchasing an additional 509,255 shares during the period. GAMMA Investing LLC increased its stake in Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Northern Trust Corp grew its position in shares of Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after buying an additional 570,674 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Netflix by 57.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after buying an additional 1,236,251 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Netflix by 42.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,387,159 shares of the Internet television network's stock worth $1,293,567,000 after buying an additional 410,235 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,824,949.02. This represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reed Hastings sold 26,933 shares of the stock in a transaction that occurred on 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 directly owned 394 shares of the company's stock, valued at approximately $477,394.04. The trade was a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 151,584 shares of company stock worth $185,411,484. 1.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Cfra Research upgraded Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Pivotal Research restated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Finally, Sanford C. Bernstein lifted their price target on Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Stock Performance

NFLX traded up $30.61 during midday trading on Wednesday, reaching $1,178.48. The company had a trading volume of 3,354,993 shares, compared to its average volume of 3,992,615. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average of $1,232.75 and a two-hundred day moving average of $1,088.27. The company has a market cap of $500.77 billion, a P/E ratio of 50.21, a P/E/G ratio of 1.93 and a beta of 1.59. Netflix, Inc. has a 1 year low of $610.64 and a 1 year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.88 earnings per share. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix 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.