RWA Wealth Partners LLC Has $3.91 Million Holdings in Netflix, Inc. $NFLX

Key Points

• RWA Wealth Partners LLC has decreased its holdings in Netflix, Inc. by 61.8% to approximately $3.91 million after selling 6,767 shares during the first quarter.
• Various hedge funds have made significant adjustments to their Netflix positions, with Resurgent Financial Advisors LLC increasing holdings by 234.4%, while institutional investors collectively own approximately 80.93% of the company's stock.
• Netflix's stock price has seen a slight increase of 0.5%, with a current trading price of $1,245.09 and an average target price set at $1,297.66 according to analysts.

RWA Wealth Partners LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 61.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,190 shares of the Internet television network's stock after selling 6,767 shares during the quarter. RWA Wealth Partners LLC's holdings in Netflix were worth $3,908,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Resurgent Financial Advisors LLC increased 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 worth $942,000 after purchasing an additional 708 shares in the last quarter. Janus Henderson Group PLC increased 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 worth $1,227,468,000 after purchasing an additional 110,432 shares in the last quarter. PharVision Advisers LLC bought a new position in Netflix during the 4th quarter worth about $873,000. New England Research & Management Inc. increased its holdings 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 worth $1,979,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings 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 worth $50,952,000 after purchasing an additional 3,137 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NFLX. Phillip Securities cut Netflix from a "hold" rating to a "strong sell" rating in a report on Monday, July 21st. Needham & Company LLC reiterated a "buy" rating and set a $1,500.00 target price on shares of Netflix in a report on Friday, July 18th. BMO Capital Markets reiterated 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. Bank of America lifted their target price on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Finally, Piper Sandler lifted their target price on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Three equities 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 stock. Based on data from MarketBeat, Netflix has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Stock Up 0.5%

Shares of NFLX opened at $1,245.09 on Tuesday. Netflix, Inc. has a one year low of $660.80 and a one year high of $1,341.15. The company has a market cap of $529.08 billion, a P/E ratio of 53.05, a P/E/G ratio of 2.09 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 $1,231.65 and a two-hundred day simple moving average of $1,105.79.

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 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 business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the previous year, the business earned $4.88 earnings per share. The company's revenue was up 15.9% on a year-over-year basis. Research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity

In other news, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the transaction, the director directly owned 63,040 shares in the company, valued at approximately $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the transaction, the chief executive officer owned 12,781 shares of the company's stock, valued at $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,307 shares of company stock valued at $179,443,809 in the last three months. Company insiders own 1.37% of the company's stock.

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.

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.