Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Three Seasons Wealth LLC

Key Points

• Three Seasons Wealth LLC has reduced its holdings in Netflix by 30.6%, now owning 1,958 shares valued at approximately $1.8 million.
• Despite some firms decreasing their stakes, others like Resurgent Financial Advisors LLC significantly increased their ownership of Netflix by 234.4% in the same quarter.
• Netflix recently reported an EPS of $7.19 for the last quarter, exceeding analysts' expectations and marking a 15.9% year-over-year revenue growth.

Three Seasons Wealth LLC decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 30.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,958 shares of the Internet television network's stock after selling 863 shares during the period. Netflix makes up about 0.9% of Three Seasons Wealth LLC's holdings, making the stock its 20th biggest position. Three Seasons Wealth LLC's holdings in Netflix were worth $1,826,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC grew its holdings in Netflix by 234.4% during the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock valued at $942,000 after buying an additional 708 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after buying an additional 110,432 shares during the last quarter. PharVision Advisers LLC purchased a new position in shares of Netflix during the 4th quarter worth $873,000. New England Research & Management Inc. lifted its stake in shares of Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock worth $1,979,000 after purchasing an additional 1,268 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Netflix by 6.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock worth $50,952,000 after purchasing an additional 3,137 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NFLX shares. Wells Fargo & Company increased their target price on Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Wedbush reaffirmed an "outperform" rating and issued a $1,500.00 target price (up from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Citigroup reaffirmed a "neutral" rating and issued a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Three investment 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, the company presently has an average rating of "Moderate Buy" and an average price target of $1,297.66.

Insider Buying and Selling at Netflix

In related news, 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 transaction of $3,151,553.67. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,472,273.97. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reed Hastings sold 26,933 shares of Netflix 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 transaction of $32,633,638.78. Following the sale, the director 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. Insiders have sold 146,483 shares of company stock worth $179,492,976 over the last three months. Company insiders own 1.37% of the company's stock.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,170.99 on Tuesday. The company has a market cap of $497.59 billion, a price-to-earnings ratio of 49.89, a PEG ratio of 1.95 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a 50 day simple moving average of $1,234.03 and a 200 day simple moving average of $1,087.86. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly 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 business had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same period last year, the company posted $4.88 earnings per share. The business's quarterly revenue was up 15.9% on a year-over-year basis. Research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix Company 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.

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