Western Wealth Management LLC Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

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Western Wealth Management LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,601 shares of the Internet television network’s stock after selling 86 shares during the quarter. Western Wealth Management LLC’s holdings in Netflix were worth $2,056,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in NFLX. Hartford Investment Management Co. increased its holdings in shares of Netflix by 0.8% in the 2nd quarter. Hartford Investment Management Co. now owns 53,204 shares of the Internet television network’s stock valued at $19,543,000 after purchasing an additional 447 shares in the last quarter. Magnus Financial Group LLC increased its holdings in shares of Netflix by 3.2% in the 1st quarter. Magnus Financial Group LLC now owns 1,120 shares of the Internet television network’s stock valued at $399,000 after purchasing an additional 35 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Netflix by 1.9% in the 1st quarter. Northern Trust Corp now owns 4,948,504 shares of the Internet television network’s stock valued at $1,764,438,000 after purchasing an additional 90,312 shares in the last quarter. Dearborn Partners LLC increased its holdings in shares of Netflix by 10.4% in the 2nd quarter. Dearborn Partners LLC now owns 1,106 shares of the Internet television network’s stock valued at $406,000 after purchasing an additional 104 shares in the last quarter. Finally, Greenleaf Trust increased its holdings in shares of Netflix by 26.1% in the 1st quarter. Greenleaf Trust now owns 4,545 shares of the Internet television network’s stock valued at $1,621,000 after purchasing an additional 940 shares in the last quarter. Institutional investors own 77.01% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Citigroup cut their price target on shares of Netflix from $420.00 to $410.00 and set a “buy” rating for the company in a report on Thursday, July 18th. BidaskClub downgraded shares of Netflix from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Nomura cut their price target on shares of Netflix from $320.00 to $310.00 and set a “neutral” rating for the company in a report on Thursday, July 18th. Barclays restated a “buy” rating on shares of Netflix in a report on Thursday, May 16th. Finally, Loop Capital upgraded shares of Netflix from a “hold” rating to a “buy” rating and raised their target price for the company from $395.00 to $425.00 in a report on Monday, June 3rd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. Netflix has a consensus rating of “Buy” and a consensus price target of $392.38.

Shares of NFLX traded down $5.72 during mid-day trading on Friday, hitting $291.21. The company had a trading volume of 4,457,318 shares, compared to its average volume of 7,413,794. The business’s 50-day simple moving average is $330.88 and its 200-day simple moving average is $352.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. Netflix, Inc. has a 1-year low of $231.23 and a 1-year high of $386.80. The stock has a market cap of $130.91 billion, a PE ratio of 108.66, a P/E/G ratio of 3.05 and a beta of 1.23.

Netflix (NASDAQ:NFLX) last released its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The business had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period last year, the company earned $0.85 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. On average, sell-side analysts expect that Netflix, Inc. will post 3.26 earnings per share for the current year.

In other Netflix news, Director Ann Mather sold 1,208 shares of Netflix stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $375.00, for a total transaction of $453,000.00. Following the transaction, the director now directly owns 357 shares of the company’s stock, valued at $133,875. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Reed Hastings sold 52,269 shares of Netflix stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $300.10, for a total transaction of $15,685,926.90. Following the transaction, the chief executive officer now directly owns 52,269 shares in the company, valued at $15,685,926.90. The disclosure for this sale can be found here. Insiders sold 160,717 shares of company stock worth $52,621,735 over the last three months. Corporate insiders own 4.29% of the company’s stock.

Netflix Company Profile

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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