Wealth Alliance LLC Sells 319 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wealth Alliance LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,368 shares of the Internet television network's stock after selling 319 shares during the period. Wealth Alliance LLC's holdings in Netflix were worth $3,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC increased its holdings in shares of Netflix by 100.0% during 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 Netflix during the 4th quarter worth $27,000. Transce3nd LLC acquired a new stake in Netflix during the 4th quarter worth $32,000. Copia Wealth Management acquired a new stake in Netflix during the 4th quarter worth $37,000. Finally, Stuart Chaussee & Associates Inc. raised 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 worth $41,000 after acquiring an additional 45 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Down 5.1%

Shares of NFLX traded down $64.93 on Friday, reaching $1,209.24. The company's stock had a trading volume of 10,678,762 shares, compared to its average volume of 3,762,863. The stock has a market capitalization of $514.62 billion, a PE ratio of 51.52, a PEG ratio of 2.15 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $1,232.59 and a 200-day moving average of $1,061.94. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15.

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, beating analysts' consensus estimates of $7.07 by $0.12. The business 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%. Netflix's revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.88 EPS. Equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NFLX shares. KeyCorp upped their price target on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Rosenblatt Securities lifted their price objective on Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a research note on Friday. The Goldman Sachs Group boosted their price objective on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Citigroup restated a "neutral" rating and issued a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Finally, FBN Securities assumed coverage on Netflix in a research report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,291.41.

Insiders Place Their Bets

In other news, CAO Jeffrey William Karbowski sold 620 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total value of $797,840.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jay C. Hoag sold 31,750 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director owned 63,040 shares in the company, valued at $78,948,144. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock valued at $223,307,201 over the last three months. 1.37% of the stock is currently owned by company insiders.

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.