Strategic Planning Group LLC Sells 3,211 Shares of Netflix, Inc. (NASDAQ:NFLX)

Strategic Planning Group LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 17.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 14,994 shares of the Internet television network's stock after selling 3,211 shares during the quarter. Netflix comprises about 2.7% of Strategic Planning Group LLC's holdings, making the stock its 10th biggest holding. Strategic Planning Group LLC's holdings in Netflix were worth $13,983,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital & Planning LLC purchased a new position in shares of Netflix during the fourth quarter valued at approximately $809,000. Brighton Jones LLC raised its stake in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after buying an additional 257 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Netflix during the 4th quarter valued at $12,212,000. Revolve Wealth Partners LLC lifted its holdings in shares of Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares during the period. Finally, FSM Wealth Advisors LLC purchased a new position in shares of Netflix in the 4th quarter worth $231,000. Institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research reports. Barclays upped their price objective on Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a research report on Monday, April 21st. Bank of America upped their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Needham & Company LLC reissued a "buy" rating and issued a $1,126.00 price objective on shares of Netflix in a report on Thursday, April 17th. FBN Securities initiated coverage on shares of Netflix in a report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 target price for the company. Finally, Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the stock an "overweight" rating in a research report on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and an average target price of $1,149.91.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the transaction, the chairman now owns 394 shares of the company's stock, valued at $362,933.10. The trade was a 98.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. Insiders have sold a total of 152,300 shares of company stock worth $169,146,939 in the last three months. Corporate insiders own 1.37% of the company's stock.

Netflix Trading Up 0.9%

NFLX stock traded up $10.86 during mid-day trading on Thursday, reaching $1,250.52. 2,814,568 shares of the stock traded hands, compared to its average volume of 3,745,431. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,262.59. The stock has a market capitalization of $532.19 billion, a PE ratio of 63.06, a PEG ratio of 2.12 and a beta of 1.58. The business has a 50-day moving average price of $1,075.18 and a two-hundred day moving average price of $982.47.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter last year, the firm posted $8.28 EPS. Equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

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.