Vivid Wealth Management LLC Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Vivid Wealth Management LLC trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 11.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,643 shares of the Internet television network’s stock after selling 343 shares during the period. Netflix makes up 1.2% of Vivid Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Vivid Wealth Management LLC’s holdings in Netflix were worth $2,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Brown Shipley& Co Ltd purchased a new position in shares of Netflix in the 4th quarter valued at $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the 4th quarter valued at $32,000. Copia Wealth Management purchased a new position in shares of Netflix in the 4th quarter valued at $37,000. 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 valued at $41,000 after buying an additional 45 shares during the last quarter. Finally, NewSquare Capital LLC grew its position in shares of Netflix by 120.0% in the 4th quarter. NewSquare Capital LLC now owns 55 shares of the Internet television network’s stock valued at $49,000 after buying an additional 30 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 1.1%

Shares of NASDAQ NFLX opened at $1,225.35 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,262.81. The firm has a 50-day moving average price of $1,127.47 and a 200 day moving average price of $1,003.32. The stock has a market capitalization of $521.47 billion, a price-to-earnings ratio of 61.79, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter last year, the business earned $8.28 earnings per share. Equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on NFLX. Wedbush reaffirmed an “outperform” rating and issued a $1,200.00 target price on shares of Netflix in a research report on Monday, May 5th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $1,220.00 price objective (up from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Moffett Nathanson reissued a “buy” rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the stock an “overweight” rating in a research report on Monday, April 21st. Finally, Bank of America raised their price objective 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. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,156.73.

Insider Activity at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated 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 transaction, the chief financial officer now owns 3,691 shares of the company’s stock, 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. Insiders sold 185,140 shares of company stock worth $210,271,552 over the last 90 days. Company insiders own 1.37% of the company’s stock.

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.