Wealthspire Advisors LLC Sells 2,519 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Wealthspire Advisors LLC sold 2,519 shares of Netflix, reducing its stake by 27.1%, leaving it with 6,761 shares valued at approximately $6.3 million.
• Analysts have raised their price targets for Netflix, with estimates now ranging from $1,140 to $1,450, while the stock holds an average rating of "Moderate Buy."
• Netflix recently reported an EPS of $7.19 for the quarter, exceeding expectations, alongside a revenue of $11.08 billion, marking a 15.9% year-over-year increase.

Wealthspire Advisors LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,761 shares of the Internet television network's stock after selling 2,519 shares during the quarter. Wealthspire Advisors LLC's holdings in Netflix were worth $6,305,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fullcircle Wealth LLC grew its holdings in shares of Netflix by 2.5% in the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after purchasing an additional 9 shares during the last quarter. Mission Creek Capital Partners Inc. boosted its position in Netflix by 0.3% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after buying an additional 10 shares in the last quarter. Continuum Wealth Advisors LLC boosted its position in Netflix by 4.4% in the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after buying an additional 10 shares in the last quarter. Financial Enhancement Group LLC grew its stake in Netflix by 2.5% during the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after buying an additional 10 shares during the last quarter. Finally, Saxony Capital Management LLC increased its holdings in shares of Netflix by 1.4% during the first quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock worth $659,000 after buying an additional 10 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Seaport Res Ptn downgraded Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. KeyCorp increased their target price on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Loop Capital reissued a "hold" rating on shares of Netflix in a report on Tuesday, July 15th. Finally, Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the stock an "outperform" rating in a research note on Friday, May 16th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Stock Up 0.2%

Shares of NASDAQ:NFLX traded up $1.89 during midday trading on Thursday, reaching $1,180.37. 2,625,184 shares of the company were exchanged, compared to its average volume of 4,041,499. The firm has a market cap of $501.57 billion, a PE ratio of 50.29, a P/E/G ratio of 1.98 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $616.02 and a fifty-two week high of $1,341.15. The stock has a fifty day simple moving average of $1,232.06 and a two-hundred day simple moving average of $1,091.12. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.88 earnings per share. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 424 shares of Netflix stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total value of $491,276.08. Following the sale, the insider owned 31,610 shares of the company's stock, valued at approximately $36,625,558.70. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 685 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,286,026.11. The trade was a 15.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 151,584 shares of company stock valued at $185,411,484 over the last 90 days. 1.37% of the stock is currently owned by company 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.