Waterfront Wealth Inc. Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Waterfront Wealth Inc. lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 23.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,595 shares of the Internet television network's stock after selling 497 shares during the period. Waterfront Wealth Inc.'s holdings in Netflix were worth $1,487,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC increased its stake in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new position in Netflix in the 4th quarter worth about $27,000. Transce3nd LLC purchased a new position in Netflix in the 4th quarter worth about $32,000. Copia Wealth Management purchased a new position in Netflix in the 4th quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. increased its stake in Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Moffett Nathanson reaffirmed a "buy" rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Canaccord Genuity Group raised their target price on shares of Netflix from $1,200.00 to $1,380.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Needham & Company LLC reissued a "buy" rating and set a $1,126.00 target price on shares of Netflix in a research report on Thursday, April 17th. Citigroup reissued a "neutral" rating and set a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Finally, UBS Group raised their target price on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Eleven investment 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,172.73.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,323.12 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,331.35. The company has a 50 day simple moving average of $1,183.25 and a two-hundred day simple moving average of $1,024.18. The stock has a market cap of $563.08 billion, a price-to-earnings ratio of 62.53, a PEG ratio of 2.56 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS 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 in the previous year, the business posted $8.28 EPS. As a group, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity

In related news, insider Cletus R. Willems sold 298 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total value of $339,124.00. Following the completion of the sale, the insider now owns 31,610 shares of the company's stock, valued at approximately $35,972,180. The trade was a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 620 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total transaction of $797,840.80. The disclosure for this sale can be found here. Insiders sold a total of 185,280 shares of company stock valued at $210,599,866 in the last three months. 1.37% of the stock is currently owned by corporate insiders.

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.

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