Netflix, Inc. $NFLX Shares Sold by CapWealth Advisors LLC

Key Points

• CapWealth Advisors LLC reduced its stake in Netflix by 27.8%, now owning 19,815 shares valued at approximately $26.5 million.
• Insiders have recently sold a combined total of 104,100 shares of Netflix, which is valued at $122.7 million, showing a significant reduction in their holdings.
• Netflix's current stock price is approximately $1,199.36 with a market capitalization of $509.64 billion, and analysts maintain a consensus rating of "Moderate Buy."

CapWealth Advisors LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 27.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,815 shares of the Internet television network's stock after selling 7,634 shares during the period. Netflix comprises approximately 2.6% of CapWealth Advisors LLC's holdings, making the stock its 9th largest holding. CapWealth Advisors LLC's holdings in Netflix were worth $26,535,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Spirit of America Management Corp NY increased its holdings in Netflix by 6.7% during the 2nd quarter. Spirit of America Management Corp NY now owns 1,600 shares of the Internet television network's stock valued at $2,143,000 after purchasing an additional 100 shares in the last quarter. Quotient Wealth Partners LLC increased its holdings in Netflix by 11.1% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,138 shares of the Internet television network's stock valued at $2,863,000 after purchasing an additional 214 shares in the last quarter. Ifrah Financial Services Inc. acquired a new stake in Netflix during the 2nd quarter valued at $207,000. Koshinski Asset Management Inc. increased its holdings in Netflix by 18.0% during the 2nd quarter. Koshinski Asset Management Inc. now owns 2,290 shares of the Internet television network's stock valued at $3,067,000 after purchasing an additional 350 shares in the last quarter. Finally, RWQ Financial Management Services Inc. increased its holdings in Netflix by 20.5% during the 2nd quarter. RWQ Financial Management Services Inc. now owns 16,200 shares of the Internet television network's stock valued at $21,694,000 after purchasing an additional 2,760 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,290,418.40. This trade represents a 41.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Reed Hastings sold 42,176 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the completion of the transaction, the director owned 394 shares in the company, valued at $461,736.48. This represents a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,100 shares of company stock worth $122,710,980 over the last three months. Insiders own 1.37% of the company's stock.

Netflix Stock Up 1.3%

Shares of NFLX opened at $1,199.36 on Friday. The firm has a market capitalization of $509.64 billion, a price-to-earnings ratio of 51.10, a PEG ratio of 1.99 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The business's fifty day moving average price is $1,213.47 and its two-hundred day moving average price is $1,175.91. Netflix, Inc. has a 52 week low of $736.23 and a 52 week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion for 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 period last year, the company earned $4.88 EPS. On average, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NFLX shares. Needham & Company LLC reaffirmed a "buy" rating and set a $1,500.00 price target on shares of Netflix in a report on Wednesday, September 10th. Loop Capital raised Netflix from a "hold" rating to a "buy" rating and raised their price target for the company from $1,150.00 to $1,350.00 in a report on Wednesday, September 17th. Robert W. Baird raised their price target on Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Barclays reaffirmed a "sell" rating and set a $1,100.00 price target (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Finally, UBS Group reaffirmed a "buy" rating and set a $1,495.00 price target on shares of Netflix in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,339.81.

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.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.