Manchester Financial Inc. Sells 61 Shares of Netflix, Inc. $NFLX

Manchester Financial Inc. trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 25.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 178 shares of the Internet television network’s stock after selling 61 shares during the period. Manchester Financial Inc.’s holdings in Netflix were worth $238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. Brighton Jones LLC grew its position in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after acquiring an additional 257 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after acquiring an additional 144 shares during the last quarter. GAMMA Investing LLC grew its position in Netflix by 17.6% during the first quarter. GAMMA Investing LLC now owns 9,475 shares of the Internet television network’s stock valued at $8,836,000 after acquiring an additional 1,415 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Netflix by 28.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 91,054 shares of the Internet television network’s stock valued at $84,909,000 after acquiring an additional 20,152 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in Netflix by 26.7% during the first quarter. Johnson Investment Counsel Inc. now owns 4,323 shares of the Internet television network’s stock valued at $4,032,000 after acquiring an additional 910 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Cletus R. Willems sold 238 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total value of $274,537.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the sale, the chief executive officer directly owned 12,781 shares of the company’s stock, valued at $14,793,240.64. The trade was a 13.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock valued at $122,710,980 over the last three months. Insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent research reports. TD Cowen reduced their price target on shares of Netflix from $1,450.00 to $1,425.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. BMO Capital Markets reiterated an “outperform” rating and set a $1,425.00 price target (up from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Needham & Company LLC reissued a “buy” rating and set a $1,500.00 price objective on shares of Netflix in a research note on Wednesday, September 10th. Citigroup reissued a “neutral” rating and set a $1,295.00 price objective (up previously from $1,280.00) on shares of Netflix in a research note on Friday, October 3rd. Finally, Wells Fargo & Company increased their price objective on Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,339.81.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,199.36 on Friday. The firm has a market cap of $509.64 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $736.23 and a fifty-two week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The business has a 50 day moving average price of $1,213.47 and a 200-day moving average price of $1,175.91.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter last year, the firm posted $4.88 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.