Strategic Advocates LLC Lowers Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Strategic Advocates LLC reduced its holdings in Netflix by 32.4%, holding 2,760 shares worth approximately $2.57 million as of the latest SEC filing.
• Institutional investors own 80.93% of Netflix stock, with significant increases in holdings from firms like GAMMA Investing LLC, which raised its position by 109,524.3%.
• Netflix's stock is rated as a "Moderate Buy" by analysts, with a consensus target price set at $1,297.66.

Strategic Advocates LLC decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 32.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,760 shares of the Internet television network's stock after selling 1,323 shares during the period. Netflix accounts for about 0.9% of Strategic Advocates LLC's portfolio, making the stock its 19th largest position. Strategic Advocates LLC's holdings in Netflix were worth $2,574,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NFLX. Brighton Jones LLC grew its position in shares of Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after buying an additional 257 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after purchasing an additional 144 shares during the last quarter. BIP Wealth LLC grew its position in Netflix by 23.8% during the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after purchasing an additional 87 shares during the last quarter. OLD Mission Capital LLC purchased a new stake in Netflix during the 4th quarter worth approximately $361,000. Finally, OneAscent Financial Services LLC grew its position in Netflix by 76.8% during the 4th quarter. OneAscent Financial Services LLC now owns 776 shares of the Internet television network's stock worth $691,000 after purchasing an additional 337 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Activity

In related news, Director Reed Hastings sold 9,673 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the completion of the sale, the director owned 394 shares in the company, valued at $523,669.34. This represents a 96.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the sale, the director owned 63,040 shares of the company's stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 123,830 shares of company stock worth $153,102,930 over the last 90 days. 1.37% of the stock is owned by corporate insiders.

Netflix Stock Up 0.7%

NFLX stock traded up $7.99 during midday trading on Monday, reaching $1,166.59. 1,423,863 shares of the company were exchanged, compared to its average volume of 4,251,331. 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 1-year low of $587.04 and a 1-year high of $1,341.15. The stock's 50-day simple moving average is $1,234.32 and its 200 day simple moving average is $1,085.67. The company has a market cap of $495.72 billion, a price-to-earnings ratio of 49.77, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter last year, the company earned $4.88 earnings per share. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research reports. Guggenheim restated a "buy" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Wells Fargo & Company lifted their price objective on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Bank of America lifted their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Finally, Barclays restated a "sell" rating and set a $1,100.00 price objective (up from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

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.