Strategic Advocates LLC Sells 1,323 Shares of 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 Netflix, Inc. (NASDAQ:NFLX - Free Report) by 32.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,760 shares of the Internet television network's stock after selling 1,323 shares during the quarter. Netflix accounts for about 0.9% of Strategic Advocates LLC's investment 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 filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC grew its position in Netflix by 234.4% in the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after buying an additional 708 shares during the last quarter. Janus Henderson Group PLC grew its position 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 purchased a new position in Netflix during the 4th quarter worth approximately $873,000. New England Research & Management Inc. grew its position 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 grew its position 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.

Insider Activity

In other news, Director Reed Hastings sold 26,933 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the transaction, the director owned 394 shares in the company, valued at approximately $477,394.04. The trade was a 98.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 2,027 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $1,141.51, for a total transaction of $2,313,840.77. Following the transaction, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,589,639.31. The trade was a 13.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,830 shares of company stock worth $153,102,930. Insiders own 1.37% of the company's stock.

Netflix Stock Performance

Netflix stock traded down $0.80 on Friday, reaching $1,158.60. 3,886,745 shares of the stock were exchanged, compared to its average volume of 3,831,108. The stock has a market cap of $492.32 billion, a PE ratio of 49.37, a PEG ratio of 1.95 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The firm has a fifty day moving average price of $1,234.32 and a two-hundred day moving average price of $1,082.35.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results 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. The firm had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business's revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.88 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on NFLX shares. Loop Capital reiterated a "hold" rating on shares of Netflix in a research report on Tuesday, July 15th. Seaport Res Ptn cut shares of Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. KeyCorp lifted their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Benchmark reiterated a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Finally, Jefferies Financial Group set a $1,500.00 price objective on shares of Netflix and gave the stock a "buy" rating in a research report on Friday, July 18th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.