Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Howard Capital Management Inc.

Key Points

• Howard Capital Management Inc. reduced its shareholding in Netflix, Inc. by 13.8%, holding 11,130 shares valued at approximately $10.38 million as of the latest SEC filing.
• Several hedge funds increased their stakes in Netflix, with Brighton Jones LLC boosting its position by 5% and BIP Wealth LLC by 23.8% in the fourth quarter.
• Wall Street analysts have set a consensus target price for Netflix at $1,297.66, with the stock being rated as a "Moderate Buy" overall, despite fluctuations in insider trading activity.

Howard Capital Management Inc. lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 13.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,130 shares of the Internet television network's stock after selling 1,786 shares during the period. Howard Capital Management Inc.'s holdings in Netflix were worth $10,379,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NFLX. Fullcircle Wealth LLC increased its position in Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after purchasing an additional 9 shares during the period. Mission Creek Capital Partners Inc. grew its stake in shares of Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after purchasing an additional 10 shares during the period. Continuum Wealth Advisors LLC grew its stake in shares of Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after purchasing an additional 10 shares during the period. Financial Enhancement Group LLC grew its stake 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 period. Finally, Saxony Capital Management LLC grew its stake in shares of Netflix by 1.4% during the 1st quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock worth $659,000 after purchasing an additional 10 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In other Netflix news, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the transaction, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,211.67, for a total value of $3,151,553.67. Following the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,472,273.97. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 153,408 shares of company stock worth $186,614,540. Company insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NFLX. UBS Group restated a "market underperform" rating on shares of Netflix in a research report on Saturday, July 19th. Pivotal Research reissued a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Citigroup reissued a "neutral" rating and issued a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Oppenheimer increased their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix Stock Up 1.3%

NFLX stock traded up $15.46 during mid-day trading on Wednesday, hitting $1,184.20. 2,908,020 shares of the company were exchanged, compared to its average volume of 3,752,075. The company has a market capitalization of $503.20 billion, a PE ratio of 50.46, a price-to-earnings-growth ratio of 1.97 and a beta of 1.59. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The firm has a fifty day simple moving average of $1,235.42 and a 200 day simple moving average of $1,077.88. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The company 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 revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.88 EPS. On average, research analysts forecast 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.