WJ Wealth Management LLC Sells 688 Shares of Netflix, Inc. (NASDAQ:NFLX)

WJ Wealth Management LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 64.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 382 shares of the Internet television network's stock after selling 688 shares during the quarter. WJ Wealth Management LLC's holdings in Netflix were worth $356,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of NFLX. CFM Wealth Partners LLC boosted its holdings in shares of Netflix by 3.3% in the first quarter. CFM Wealth Partners LLC now owns 5,281 shares of the Internet television network's stock valued at $4,925,000 after buying an additional 167 shares during the period. Colonial River Investments LLC lifted its position in Netflix by 13.4% in the 1st quarter. Colonial River Investments LLC now owns 2,203 shares of the Internet television network's stock valued at $2,054,000 after acquiring an additional 260 shares in the last quarter. Clarus Group Inc. lifted its position in Netflix by 3.3% in the 1st quarter. Clarus Group Inc. now owns 565 shares of the Internet television network's stock valued at $527,000 after acquiring an additional 18 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Netflix by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,202,228 shares of the Internet television network's stock worth $1,121,114,000 after purchasing an additional 20,155 shares during the period. Finally, Golden State Wealth Management LLC increased its holdings in Netflix by 3.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,129 shares of the Internet television network's stock worth $1,053,000 after purchasing an additional 40 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Up 1.3%

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

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The business had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same period last year, the firm 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 other Netflix news, Chairman Reed Hastings sold 25,360 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now owns 394 shares in the company, valued at $362,933.10. This trade represents a 98.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at $3,402,068.52. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,280 shares of company stock valued at $210,599,866. 1.37% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on NFLX. Jefferies Financial Group lifted their price target on Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Bank of America lifted their target price on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Wells Fargo & Company lifted their price objective on shares of Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Finally, Evercore ISI reissued an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,172.73.

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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