Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Balefire LLC

Balefire LLC cut its position in Netflix, Inc. (NASDAQ:NFLX) by 54.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 491 shares of the Internet television network’s stock after selling 577 shares during the period. Balefire LLC’s holdings in Netflix were worth $458,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its stake in Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after purchasing an additional 257 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after buying an additional 144 shares in the last quarter. FourThought Financial Partners LLC acquired a new position in shares of Netflix in the 4th quarter valued at $1,025,000. Delta Financial Advisors LLC grew its position in shares of Netflix by 4.0% in the 4th quarter. Delta Financial Advisors LLC now owns 391 shares of the Internet television network’s stock valued at $349,000 after buying an additional 15 shares during the last quarter. Finally, FFT Wealth Management LLC acquired a new stake in Netflix during the 4th quarter worth $209,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Phillip Securities upgraded shares of Netflix from a “moderate sell” rating to a “hold” rating in a research note on Monday, April 21st. Robert W. Baird upped their target price on Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Piper Sandler set a $1,150.00 price target on Netflix and gave the stock an “overweight” rating in a research report on Monday, April 21st. Citigroup reiterated a “neutral” rating and issued a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, Oppenheimer raised their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Eleven 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 company. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $1,172.73.

Netflix Trading Down 0.3%

Shares of NFLX opened at $1,275.25 on Thursday. Netflix, Inc. has a twelve month low of $587.04 and a twelve month 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 has a market capitalization of $542.71 billion, a P/E ratio of 60.27, a PEG ratio of 2.47 and a beta of 1.59. The firm’s 50-day moving average is $1,169.57 and its two-hundred day 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 for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for 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 quarter in the prior year, the firm posted $8.28 EPS. On average, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the firm’s stock in a transaction on Tuesday, April 29th. The stock was 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 approximately $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 25,360 shares of the company’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 in the company, valued at $362,933.10. This represents a 98.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,660 shares of company stock worth $209,802,025 over the last 90 days. 1.37% of the stock is currently owned by corporate insiders.

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.