Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Financial Engines Advisors L.L.C.

Key Points

• Financial Engines Advisors L.L.C. sold 333 shares of Netflix, reducing its stake by 5.9% in the first quarter, leaving it with a holding worth approximately $4.98 million.
• Several institutional investors, including Motley Fool Asset Management LLC and Independent Advisor Alliance, increased their positions in Netflix, with institutional ownership now at 80.93%.
• Netflix's latest earnings report beat expectations, revealing earnings per share of $7.19 against a consensus estimate of $7.07, with revenue growing 15.9% year-over-year.

Financial Engines Advisors L.L.C. lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 5,337 shares of the Internet television network's stock after selling 333 shares during the period. Financial Engines Advisors L.L.C.'s holdings in Netflix were worth $4,977,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Motley Fool Asset Management LLC grew its holdings in Netflix by 1.4% in the first quarter. Motley Fool Asset Management LLC now owns 23,544 shares of the Internet television network's stock valued at $21,955,000 after purchasing an additional 330 shares during the period. Meridian Wealth Management LLC lifted its position in shares of Netflix by 1.6% during the 1st quarter. Meridian Wealth Management LLC now owns 6,938 shares of the Internet television network's stock valued at $6,470,000 after buying an additional 107 shares in the last quarter. Operose Advisors LLC grew its stake in Netflix by 0.7% in the 1st quarter. Operose Advisors LLC now owns 1,967 shares of the Internet television network's stock valued at $1,834,000 after acquiring an additional 14 shares during the period. Independent Advisor Alliance grew its stake in Netflix by 9.3% in the 1st quarter. Independent Advisor Alliance now owns 26,720 shares of the Internet television network's stock valued at $24,917,000 after acquiring an additional 2,270 shares during the period. Finally, First American Trust FSB increased its holdings in Netflix by 50.8% in the 1st quarter. First American Trust FSB now owns 356 shares of the Internet television network's stock worth $332,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a report on Tuesday, July 15th. KeyCorp raised their price target on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Phillip Securities downgraded Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. Finally, Piper Sandler boosted their price target on Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix Price Performance

Netflix stock opened at $1,211.64 on Monday. The company's 50 day simple moving average is $1,232.25 and its 200-day simple moving average is $1,095.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 1 year low of $622.99 and a 1 year high of $1,341.15. The company has a market capitalization of $514.86 billion, a price-to-earnings ratio of 51.63, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter last year, the firm earned $4.88 EPS. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value 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 $4,824,949.02. The trade was a 41.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the sale, the director directly owned 63,040 shares in the company, valued at $78,948,144. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,307 shares of company stock worth $179,443,809 in the last 90 days. 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.

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