Jacksonville Wealth Management LLC Sells 29 Shares of Netflix, Inc. (NASDAQ:NFLX)

Jacksonville Wealth Management LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,283 shares of the Internet television network’s stock after selling 29 shares during the quarter. Netflix makes up about 2.1% of Jacksonville Wealth Management LLC’s holdings, making the stock its 14th biggest holding. Jacksonville Wealth Management LLC’s holdings in Netflix were worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brown Shipley& Co Ltd purchased a new position in Netflix during the 4th quarter valued at $27,000. Pathway Financial Advisers LLC grew its position in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares during the period. Transce3nd LLC purchased a new stake in shares of Netflix in the 4th quarter worth about $32,000. Copia Wealth Management purchased a new stake in shares of Netflix in the 4th quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. grew its position in shares of Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after buying an additional 45 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,215.03 on Friday. The firm’s 50-day moving average price is $1,113.54 and its 200-day moving average price is $996.91. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $517.08 billion, a PE ratio of 61.27, a PEG ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,262.81.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter last year, the firm posted $8.28 EPS. As a group, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In related news, insider Cletus R. Willems sold 298 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total value of $339,124.00. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $35,972,180. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,402,068.52. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,140 shares of company stock valued at $210,271,552. 1.37% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NFLX. Bank of America upped their target price on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Citigroup reaffirmed a “neutral” rating and issued a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Morgan Stanley upped their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Moffett Nathanson reaffirmed a “buy” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $1,126.00 target price on shares of Netflix in a research report on Thursday, April 17th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,156.73.

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.