Selective Wealth Management Inc. Decreases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Selective Wealth Management Inc. lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 10.5% during the first quarter, Holdings Channel reports. The institutional investor owned 382 shares of the Internet television network’s stock after selling 45 shares during the quarter. Selective Wealth Management Inc.’s holdings in Netflix were worth $351,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NFLX. GAMMA Investing LLC lifted its holdings in shares of Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Norges Bank purchased a new stake in shares of Netflix in the 4th quarter valued at $5,019,087,000. Proficio Capital Partners LLC increased its stake in shares of Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after acquiring an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after purchasing an additional 856,307 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after purchasing an additional 743,724 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other Netflix news, Director Ann Mather sold 1,358 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the transaction, the director now owns 79,040 shares of the company’s stock, valued at $87,099,708.80. This trade represents a 29.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 153,390 shares of company stock worth $170,509,439 over the last three months. Insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NFLX. Phillip Securities upgraded Netflix from a “moderate sell” rating to a “hold” rating in a research note on Monday, April 21st. KeyCorp lifted their price target on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Rosenblatt Securities boosted their price target on Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a report on Monday, April 21st. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the stock an “overweight” rating in a research note on Monday, April 21st. Finally, Jefferies Financial Group boosted their target price on shares of Netflix from $1,200.00 to $1,400.00 and gave the company a “buy” rating in a research note on Tuesday, June 3rd. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $1,149.91.

Netflix Stock Down 0.7%

Shares of NASDAQ NFLX opened at $1,241.47 on Monday. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81. The company has a market capitalization of $528.33 billion, a P/E ratio of 62.61, a P/E/G ratio of 2.12 and a beta of 1.59. The company has a 50 day simple moving average of $1,087.80 and a 200-day simple moving average of $989.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the prior year, the company posted $8.28 EPS. On average, 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.