Mustard Seed Financial LLC Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Mustard Seed Financial LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 457 shares of the Internet television network’s stock after selling 50 shares during the quarter. Mustard Seed Financial LLC’s holdings in Netflix were worth $426,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC raised its stake in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new stake in Netflix in the 4th quarter valued at $27,000. Transce3nd LLC acquired a new stake in Netflix in the 4th quarter valued at $32,000. Copia Wealth Management purchased a new position in Netflix in the fourth quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its stake in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at approximately $4,824,949.02. This represents a 41.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the transaction, the director directly owned 63,040 shares in the company, valued at $78,948,144. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,307 shares of company stock valued at $179,443,809 in the last three months. 1.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NFLX. Oppenheimer increased their target price on Netflix from $1,200.00 to $1,425.00 and gave the company an “outperform” rating in a research note on Thursday, June 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Netflix in a research report on Friday, July 18th. Guggenheim reissued a “buy” rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Wedbush reaffirmed an “outperform” rating and set a $1,500.00 price target (up from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Finally, Rosenblatt Securities boosted their price objective on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $1,297.66.

Netflix Price Performance

NASDAQ NFLX opened at $1,211.64 on Monday. Netflix, Inc. has a 12 month low of $622.99 and a 12 month high of $1,341.15. The firm has a market capitalization of $514.86 billion, a PE ratio of 51.63, a P/E/G ratio of 2.04 and a beta of 1.59. The company’s 50 day simple moving average is $1,232.25 and its 200 day simple moving average is $1,095.21. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the company posted $4.88 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal 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.