Netflix, Inc. (NASDAQ:NFLX) Stock Position Lessened by Firestone Capital Management

Firestone Capital Management decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 306 shares of the Internet television network’s stock after selling 11 shares during the quarter. Firestone Capital Management’s holdings in Netflix were worth $285,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of NFLX. Fullcircle Wealth LLC increased its position in Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network’s stock worth $344,000 after buying an additional 9 shares during the period. MRP Capital Investments LLC increased its position in Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock worth $938,000 after buying an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC increased its position in Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after buying an additional 10 shares during the period. Mission Creek Capital Partners Inc. increased its position in Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock worth $3,410,000 after buying an additional 10 shares during the period. Finally, Continuum Wealth Advisors LLC increased its position in Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network’s stock worth $219,000 after buying an additional 10 shares during the period. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NFLX shares. Seaport Res Ptn cut Netflix from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 6th. Benchmark restated a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Barclays restated a “sell” rating and issued a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. KeyCorp raised their price target on Netflix from $1,070.00 to $1,390.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price target on Netflix from $1,222.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $1,220.58.

Insider Transactions at Netflix

In related news, CAO Jeffrey William Karbowski sold 620 shares of the business’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total value of $797,840.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Strive Masiyiwa sold 290 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is owned by insiders.

Netflix Stock Performance

Shares of NFLX stock opened at $1,245.11 on Monday. The firm has a market capitalization of $529.88 billion, a PE ratio of 58.84, a price-to-earnings-growth ratio of 2.25 and a beta of 1.59. The firm has a fifty day simple moving average of $1,221.70 and a two-hundred day simple moving average of $1,050.73. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the prior year, the business posted $8.28 EPS. Analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.