NWK Group Inc. Trims Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• NWK Group Inc. has reduced its stake in Netflix, Inc. by 2.0%, owning 11,786 shares valued at approximately $10.99 million, which represents 5.0% of its portfolio.
• Other institutional investors, including Resurgent Financial Advisors LLC and Janus Henderson Group PLC, have significantly increased their stakes in Netflix, indicating continued interest and investment in the streaming service.
• Netflix reported strong quarterly earnings with $7.19 EPS, exceeding estimates, and its revenue increased by 15.9% year-over-year, reflecting robust business growth.

NWK Group Inc. reduced its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,786 shares of the Internet television network's stock after selling 235 shares during the quarter. Netflix makes up 5.0% of NWK Group Inc.'s portfolio, making the stock its 8th biggest position. NWK Group Inc.'s holdings in Netflix were worth $10,991,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Resurgent Financial Advisors LLC increased its stake 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 period. Janus Henderson Group PLC increased its stake 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 period. PharVision Advisers LLC acquired a new position in Netflix during the 4th quarter valued at about $873,000. New England Research & Management Inc. increased its stake in 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 valued at $1,979,000 after buying an additional 1,268 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in 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 valued at $50,952,000 after buying an additional 3,137 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Stock Up 2.6%

NFLX opened at $1,211.64 on Friday. The firm's 50-day simple moving average is $1,232.25 and its 200-day simple moving average is $1,093.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a twelve month low of $622.99 and a twelve month high of $1,341.15. The firm has a market cap of $514.86 billion, a price-to-earnings ratio of 51.63, a PEG ratio of 1.99 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.88 EPS. Equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,824,949.02. This represents a 41.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the transaction, the director owned 7,969 shares in the company, valued at approximately $8,959,227.94. This trade represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 150,226 shares of company stock worth $183,849,784 in the last 90 days. Corporate insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on NFLX shares. Jefferies Financial Group set a $1,500.00 target price on shares of Netflix and gave the company a "buy" rating in a research note on Friday, July 18th. Robert W. Baird lifted their price objective on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,500.00 price objective on shares of Netflix in a research note on Friday, July 18th. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Finally, Rosenblatt Securities lifted their price objective on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

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.

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