Netflix, Inc. (NASDAQ:NFLX) Position Trimmed by Moran Wealth Management LLC

Moran Wealth Management LLC decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,740 shares of the Internet television network’s stock after selling 111 shares during the quarter. Moran Wealth Management LLC’s holdings in Netflix were worth $2,555,000 as of its most recent SEC filing.

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

Insider Activity at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were 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 directly owns 3,691 shares of the company’s stock, valued at $3,402,068.52. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,660 shares of company stock worth $209,802,025 in the last 90 days. 1.37% of the stock is owned by company insiders.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,275.25 on Thursday. The firm has a market capitalization of $542.71 billion, a PE ratio of 60.27, a PEG ratio of 2.47 and a beta of 1.59. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,298.00. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm’s fifty day simple moving average is $1,169.57 and its 200 day simple moving average is $1,018.04.

Netflix (NASDAQ:NFLX) last released 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 company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period in the prior year, the company earned $8.28 earnings per share. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Netflix from $1,222.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Needham & Company LLC reissued a “buy” rating and issued a $1,126.00 target price on shares of Netflix in a research report on Thursday, April 17th. Rosenblatt Securities upped their price target on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Phillip Securities upgraded shares of Netflix from a “moderate sell” rating to a “hold” rating in a research report on Monday, April 21st. Finally, Morgan Stanley raised their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,172.73.

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.