Sheaff Brock Investment Advisors LLC Sells 796 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Sheaff Brock Investment Advisors LLC reduced its stake in Netflix by 8.4%, selling 796 shares during the first quarter, leaving them with 8,641 shares valued at $8,058,000.
• Netflix's share price opened at $1,180.49 on Monday, with a market cap of $501.63 billion, and it has shown a 12-month price range from $587.04 to $1,341.15.
• Insider transactions included CFO Spencer Adam Neumann selling 2,601 shares for over $3.15 million, representing a 41.34% decrease in his position.

Sheaff Brock Investment Advisors LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,641 shares of the Internet television network's stock after selling 796 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Netflix were worth $8,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fullcircle Wealth LLC lifted its position in Netflix by 2.5% in the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after purchasing an additional 9 shares during the period. Bedell Frazier Investment Counselling LLC lifted its position in Netflix by 2.2% in 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 position in Netflix by 0.3% in 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 position in Netflix by 4.4% in 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 position in Netflix by 2.5% in 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. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

Shares of NFLX stock opened at $1,180.49 on Monday. The firm has a market cap of $501.63 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 1.99 and a beta of 1.59. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The stock has a 50-day moving average price of $1,236.44 and a 200 day moving average price of $1,074.14. 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 posted its 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 company had revenue of $11.08 billion during 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 company's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.88 EPS. Research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the business'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 completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,472,273.97. The trade was a 41.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director owned 79,040 shares in the company, valued at approximately $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,923 shares of company stock valued at $222,445,095 over the last 90 days. 1.37% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages 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. UBS Group reissued a "market underperform" rating on shares of Netflix in a report on Saturday, July 19th. Citigroup reissued a "neutral" rating and set a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Macquarie lifted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Finally, Barclays reissued a "sell" rating and set a $1,100.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Three research 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 assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix 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.

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