Navalign LLC Sells 76 Shares of Netflix, Inc. (NASDAQ:NFLX)

Navalign LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,105 shares of the Internet television network’s stock after selling 76 shares during the quarter. Netflix accounts for approximately 0.6% of Navalign LLC’s investment portfolio, making the stock its 28th largest holding. Navalign LLC’s holdings in Netflix were worth $1,963,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NFLX. Brighton Jones LLC boosted its position in Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after buying an additional 257 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after purchasing an additional 144 shares during the period. BIP Wealth LLC grew its stake in Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network’s stock worth $403,000 after purchasing an additional 87 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Netflix by 39.1% during the 4th quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network’s stock worth $1,926,000 after purchasing an additional 607 shares during the period. Finally, Lifeworks Advisors LLC bought a new stake in Netflix during the 4th quarter valued at $224,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at $4,179,614.58. This represents a 41.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bradford L. Smith sold 3,919 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the transaction, the director directly owned 7,969 shares in the company, valued at approximately $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,723 shares of company stock worth $223,307,201. Company insiders own 1.37% of the company’s stock.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,289.62 on Tuesday. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. 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 stock has a market cap of $548.82 billion, a price-to-earnings ratio of 60.95, a PEG ratio of 2.35 and a beta of 1.59. The company has a 50 day simple moving average of $1,211.46 and a two-hundred day simple moving average of $1,041.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter last year, the company earned $8.28 EPS. As a group, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. KeyCorp raised their price target on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Canaccord Genuity Group raised their target price on shares of Netflix from $1,380.00 to $1,525.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Guggenheim reiterated a “buy” rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Wells Fargo & Company boosted their price objective on shares of Netflix from $1,222.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Finally, Macquarie upped their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. Twelve research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,182.58.

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.