B. Riley Wealth Advisors Inc. Sells 2,233 Shares of Netflix, Inc. (NASDAQ:NFLX)

B. Riley Wealth Advisors Inc. reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 18.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,962 shares of the Internet television network’s stock after selling 2,233 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Netflix were worth $8,880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of NFLX. Pathway Financial Advisers LLC boosted its holdings in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares in the last quarter. Brown Shipley& Co Ltd acquired a new position in shares of Netflix in the 4th quarter worth approximately $27,000. Transce3nd LLC acquired a new position in shares of Netflix in the 4th quarter worth approximately $32,000. Newton One Investments LLC acquired a new position in shares of Netflix in the 4th quarter worth approximately $34,000. Finally, Pineridge Advisors LLC boosted its holdings in shares of Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Bradford L. Smith sold 3,919 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the transaction, the director now directly owns 7,969 shares in the company, valued at $8,959,227.94. This represents a 32.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 1,358 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 132,868 shares of company stock worth $138,483,256. Corporate insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,200.00 price objective (up previously from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Phillip Securities raised Netflix from a “moderate sell” rating to a “hold” rating in a report on Monday, April 21st. KeyCorp upped their price objective on Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Canaccord Genuity Group upped their price objective on Netflix from $1,200.00 to $1,380.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Finally, Cfra Research raised Netflix to a “strong-buy” rating in a report on Monday, April 28th. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,102.79.

Netflix Price Performance

NFLX opened at $1,185.39 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,211.22. The company has a fifty day simple moving average of $1,036.22 and a 200 day simple moving average of $961.79. The stock has a market cap of $504.47 billion, a P/E ratio of 59.78, a P/E/G ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations 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 prior year, the company earned $8.28 EPS. On average, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

About Netflix

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.