Premier Fund Managers Ltd Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Premier Fund Managers Ltd reduced its stake in Netflix, Inc. by 18.5% during the first quarter, holding 9,820 shares valued at approximately $9.17 million.
• In recent transactions, Netflix's Director Bradford L. Smith and CFO Spencer Adam Neumann significantly decreased their ownership, selling shares valued at over $7.5 million combined.
• Analysts maintain a consensus rating of "Moderate Buy" for Netflix, with target prices ranging from $1,150.00 to $1,515.00, reflecting mixed sentiments among market experts.

Premier Fund Managers Ltd lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 18.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,820 shares of the Internet television network's stock after selling 2,230 shares during the quarter. Premier Fund Managers Ltd's holdings in Netflix were worth $9,167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Brighton Jones LLC boosted its position in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after acquiring an additional 257 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after acquiring an additional 144 shares during the period. BIP Wealth LLC boosted its position in shares of Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after acquiring an additional 87 shares during the period. Summit Securities Group LLC bought a new position in shares of Netflix in the fourth quarter valued at approximately $61,000. Finally, Physician Wealth Advisors Inc. bought a new position in shares of Netflix in the fourth quarter valued at approximately $176,000. Institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

NASDAQ NFLX traded down $3.90 on Friday, reaching $1,155.50. 2,931,014 shares of the stock were exchanged, compared to its average volume of 4,263,547. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The firm has a market capitalization of $491.01 billion, a PE ratio of 49.38, a PEG ratio of 1.99 and a beta of 1.59. The company's 50-day simple moving average is $1,234.85 and its two-hundred day simple moving average is $1,080.08. 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 released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 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 company had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter last year, the business earned $4.88 EPS. The firm's revenue was up 15.9% compared to the same quarter last year. Analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Director Strive Masiyiwa sold 290 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total transaction of $387,596.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The disclosure for this sale can be found here. Insiders have sold 123,830 shares of company stock worth $153,102,930 in the last 90 days. Insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several research analyst reports. Jefferies Financial Group set a $1,500.00 target price on shares of Netflix and gave the company a "buy" rating in a research report on Friday, July 18th. Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the company an "outperform" rating in a research report on Friday, May 16th. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Piper Sandler lifted their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Finally, Citigroup reiterated a "neutral" rating and set a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

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.