New Age Alpha Advisors LLC Sells 2,636 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• New Age Alpha Advisors LLC has reduced its stake in Netflix, Inc. by 71.3%, now holding only 1,062 shares worth approximately $990,000.
• Other institutional investors have adjusted their holdings, with Resurgent Financial Advisors LLC increasing its stake by 234.4% and Janus Henderson Group PLC boosting its holdings by 8.7%, contributing to 80.93% of the stock being owned by institutional investors.
• Netflix’s recent performance showed a 15.9% increase in year-over-year revenue, with the company reporting $7.19 EPS for the last quarter, surpassing analysts' expectations.

New Age Alpha Advisors LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 71.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,062 shares of the Internet television network's stock after selling 2,636 shares during the quarter. New Age Alpha Advisors LLC's holdings in Netflix were worth $990,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC increased its holdings in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new position in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC bought a new position in Netflix in the 4th quarter worth about $32,000. Copia Wealth Management bought a new position in Netflix in the 4th quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its position in shares of Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after acquiring an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Barclays reissued a "sell" rating and issued a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Wedbush reissued an "outperform" rating and issued a $1,500.00 target price (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $1,500.00 price target on shares of Netflix in a research note on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Buying and Selling

In other news, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director owned 63,040 shares of the company's stock, valued at $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 150,226 shares of company stock valued at $183,849,784 in the last 90 days. 1.37% of the stock is owned by company insiders.

Netflix Stock Performance

NASDAQ:NFLX traded up $31.27 on Friday, hitting $1,211.64. The stock had a trading volume of 3,811,512 shares, compared to its average volume of 3,961,090. The business's 50-day simple moving average is $1,232.25 and its two-hundred day simple moving average is $1,093.48. The stock has a market cap of $514.86 billion, a price-to-earnings ratio of 51.63, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59. Netflix, Inc. has a 52-week low of $622.99 and a 52-week high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) 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 company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period in the previous year, the business posted $4.88 earnings per share. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current 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.