Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Viawealth LLC

Viawealth LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,145 shares of the Internet television network’s stock after selling 70 shares during the period. Viawealth LLC’s holdings in Netflix were worth $1,068,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. SLT Holdings LLC grew its stake in Netflix by 22.4% in the first quarter. SLT Holdings LLC now owns 306 shares of the Internet television network’s stock worth $285,000 after purchasing an additional 56 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Netflix in the 1st quarter worth approximately $10,549,000. Physicians Financial Services Inc. acquired a new position in shares of Netflix in the 1st quarter worth approximately $613,000. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Netflix by 5.7% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,011 shares of the Internet television network’s stock worth $2,808,000 after acquiring an additional 162 shares in the last quarter. Finally, Evermay Wealth Management LLC boosted its holdings in Netflix by 23.7% in the first quarter. Evermay Wealth Management LLC now owns 962 shares of the Internet television network’s stock worth $897,000 after purchasing an additional 184 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,174.60 on Tuesday. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $499.12 billion, a price-to-earnings ratio of 50.05, a PEG ratio of 1.99 and a beta of 1.59. The firm has a 50-day moving average of $1,236.10 and a two-hundred day moving average of $1,076.50.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period in the prior year, the business earned $4.88 earnings per share. The business’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Director Strive Masiyiwa sold 290 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jeffrey William Karbowski sold 620 shares of the company’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total value of $797,840.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,408 shares of company stock worth $186,614,540. 1.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on NFLX. Wall Street Zen upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group boosted their price objective on Netflix from $1,000.00 to $1,140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Canaccord Genuity Group restated a “buy” rating on shares of Netflix in a research report on Thursday, July 10th. Barclays restated a “sell” rating and set a $1,100.00 price objective (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Finally, Wedbush reissued an “outperform” rating and set a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,297.66.

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.