Nvwm LLC Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Nvwm LLC has reduced its holdings in Netflix, Inc. by 3.8%, now owning 5,469 shares valued at approximately $5.1 million, making it 14th in their investment portfolio.
• Netflix recently reported a quarterly earnings per share (EPS) of $7.19, exceeding estimates and showing a 15.9% year-over-year revenue increase to $11.08 billion.
• Insider trading reports indicate a significant sell-off, with Director Reed Hastings selling 26,977 shares, representing a 98.56% decrease in his ownership of the stock.

Nvwm LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,469 shares of the Internet television network's stock after selling 214 shares during the period. Netflix comprises approximately 1.4% of Nvwm LLC's holdings, making the stock its 14th largest holding. Nvwm LLC's holdings in Netflix were worth $5,100,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fullcircle Wealth LLC grew its stake in shares of Netflix by 2.5% during the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after acquiring an additional 9 shares during the last quarter. Bedell Frazier Investment Counselling LLC lifted its holdings in shares of Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after purchasing an additional 10 shares during the period. Mission Creek Capital Partners Inc. lifted its holdings in shares of Netflix by 0.3% during the fourth 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 lifted its holdings in shares of Netflix by 4.4% during the first 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. Finally, Financial Enhancement Group LLC lifted its holdings in shares of Netflix by 2.5% during the first 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. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of research reports. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,425.00 target price (up previously from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Evercore ISI reissued an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Robert W. Baird boosted 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. Sanford C. Bernstein boosted their price target on Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group set a $1,500.00 price target on Netflix and gave the company a "buy" rating in a report on Friday, July 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Insider Buying and Selling

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total transaction of $3,151,553.67. Following the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,472,273.97. This trade represents a 41.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. This trade represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,923 shares of company stock worth $222,445,095. 1.37% of the stock is owned by corporate insiders.

Netflix Trading Down 0.0%

Netflix stock traded down $0.27 during midday trading on Friday, reaching $1,180.49. 2,624,404 shares of the stock traded hands, compared to its average volume of 3,928,007. The company has a 50-day simple moving average of $1,236.44 and a two-hundred day simple moving average of $1,071.39. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The firm has a market cap of $501.63 billion, a PE ratio of 50.30, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.20 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 EPS for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. Netflix's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the business posted $4.88 EPS. Research analysts expect 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.