Western Wealth Management LLC Sells 4,202 Shares of Netflix, Inc. (NASDAQ:NFLX)

Western Wealth Management LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 87.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 588 shares of the Internet television network's stock after selling 4,202 shares during the quarter. Western Wealth Management LLC's holdings in Netflix were worth $524,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Janus Henderson Group PLC raised its holdings in Netflix by 8.7% in 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 shares of Netflix during the fourth quarter valued at about $873,000. First National Trust Co increased its position in shares of Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock valued at $1,121,000 after buying an additional 12 shares during the period. Haven Private LLC bought a new position in Netflix in the fourth quarter worth about $733,000. Finally, Sigma Planning Corp lifted its holdings in Netflix by 7.4% in the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network's stock worth $4,966,000 after buying an additional 386 shares during the period. 80.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NFLX shares. Benchmark reiterated a "hold" rating on shares of Netflix in a report on Monday, April 21st. Macquarie upped their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Cfra Research upgraded Netflix to a "strong-buy" rating in a report on Monday, April 28th. Oppenheimer reissued an "outperform" rating and set a $1,200.00 price objective (up previously from $1,150.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $1,126.00 target price on shares of Netflix in a research report on Thursday, April 17th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and an average target price of $1,102.79.

Netflix Trading Down 0.2%

NASDAQ:NFLX opened at $1,185.39 on Friday. The company has a market cap of $504.47 billion, a PE ratio of 59.78, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a 50 day simple moving average of $1,036.22 and a two-hundred day simple moving average of $960.54. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,211.22.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the company posted $8.28 earnings per share. Research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the completion of the sale, the chief financial officer now owns 3,691 shares of the company's stock, valued at $3,624,746.55. The trade was a 41.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Insiders sold 132,868 shares of company stock valued at $138,483,256 in the last quarter. 1.76% of the stock is currently owned by 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.

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