Spire Wealth Management Sells 1,193 Shares of Netflix, Inc. (NASDAQ:NFLX)

Spire Wealth Management cut its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,923 shares of the Internet television network's stock after selling 1,193 shares during the period. Spire Wealth Management's holdings in Netflix were worth $19,511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC lifted its stake in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix in the fourth quarter worth $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the 4th quarter valued at $32,000. Copia Wealth Management acquired a new position in shares of Netflix during the 4th quarter valued at $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its holdings 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 in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Netflix news, insider Cletus R. Willems sold 298 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the completion of the sale, the insider now owns 31,610 shares of the company's stock, valued at $35,972,180. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares in the company, valued at approximately $362,933.10. This represents a 98.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,660 shares of company stock valued at $209,802,025 over the last 90 days. 1.37% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent analyst reports. Macquarie raised their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Canaccord Genuity Group boosted their target price on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Guggenheim reaffirmed a "buy" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Wedbush reiterated an "outperform" rating and issued a $1,200.00 price target on shares of Netflix in a research note on Monday, May 5th. Finally, Jefferies Financial Group boosted their price objective on Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,172.73.

Netflix Stock Down 0.3%

Shares of NASDAQ:NFLX traded down $3.86 during mid-day trading on Wednesday, reaching $1,275.25. 2,143,469 shares of the stock were exchanged, compared to its average volume of 3,737,202. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,297.17. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The stock's 50 day simple moving average is $1,163.30 and its 200-day simple moving average is $1,016.26. The company has a market cap of $542.71 billion, a P/E ratio of 60.27, a P/E/G ratio of 2.43 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period last year, the business earned $8.28 earnings per share. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

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.