Sheets Smith Wealth Management Sells 132 Shares of Netflix, Inc. (NASDAQ:NFLX)

Sheets Smith Wealth Management lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 17.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 609 shares of the Internet television network’s stock after selling 132 shares during the period. Sheets Smith Wealth Management’s holdings in Netflix were worth $568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of NFLX. Sava Infond d.o.o. boosted its stake in shares of Netflix by 121.3% during the first quarter. Sava Infond d.o.o. now owns 1,195 shares of the Internet television network’s stock valued at $1,114,000 after purchasing an additional 655 shares during the period. Ledyard National Bank lifted its holdings in Netflix by 4.7% during the 1st quarter. Ledyard National Bank now owns 268 shares of the Internet television network’s stock valued at $250,000 after buying an additional 12 shares in the last quarter. YHB Investment Advisors Inc. boosted its position in Netflix by 0.9% in the 1st quarter. YHB Investment Advisors Inc. now owns 5,083 shares of the Internet television network’s stock valued at $4,740,000 after buying an additional 45 shares during the period. Embree Financial Group grew its stake in Netflix by 45.0% in the 1st quarter. Embree Financial Group now owns 732 shares of the Internet television network’s stock worth $683,000 after acquiring an additional 227 shares in the last quarter. Finally, Spirepoint Private Client LLC increased its position in shares of Netflix by 2.8% during the first quarter. Spirepoint Private Client LLC now owns 411 shares of the Internet television network’s stock worth $383,000 after acquiring an additional 11 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $1,279.11 on Wednesday. The business has a fifty day moving average of $1,163.30 and a 200 day moving average of $1,016.26. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,282.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $544.35 billion, a price-to-earnings ratio of 60.45, a price-to-earnings-growth ratio of 2.43 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period last year, the business posted $8.28 earnings per share. As a group, research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NFLX shares. Oppenheimer boosted their price target on Netflix from $1,200.00 to $1,425.00 and gave the company an “outperform” rating in a report on Thursday, June 12th. Pivotal Research lifted their target price on Netflix from $1,350.00 to $1,600.00 and gave the company a “buy” rating in a research report on Friday, June 20th. Canaccord Genuity Group upped their target price on Netflix from $1,200.00 to $1,380.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Wells Fargo & Company increased 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. Finally, Macquarie lifted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Monday, April 21st. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,172.73.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares of the company’s stock, valued at approximately $362,933.10. The trade was a 98.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,660 shares of company stock worth $209,802,025. Company insiders own 1.37% of the company’s stock.

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.