Tectonic Advisors LLC Trims Position in Netflix, Inc. (NASDAQ:NFLX)

Tectonic Advisors LLC trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 29.9% during the 1st quarter, HoldingsChannel reports. The firm owned 1,113 shares of the Internet television network’s stock after selling 474 shares during the period. Tectonic Advisors LLC’s holdings in Netflix were worth $1,038,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its stake in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after acquiring an additional 257 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Netflix by 16.4% during the fourth 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 during the last quarter. BIP Wealth LLC lifted its holdings in Netflix by 23.8% during the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network’s stock valued at $403,000 after buying an additional 87 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of 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 buying an additional 607 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its stake in Netflix by 9.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 438 shares of the Internet television network’s stock worth $390,000 after buying an additional 39 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Citigroup reiterated a “neutral” rating and issued a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Piper Sandler set a $1,400.00 price target on shares of Netflix and gave the stock an “overweight” rating in a report on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on shares of Netflix from $1,220.00 to $1,230.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. FBN Securities initiated coverage on shares of Netflix in a report on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price target for the company. Finally, Barclays reaffirmed a “sell” rating and set a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,227.39.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 620 shares of the company’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total transaction of $797,840.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,824,949.02. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 in the last ninety days. Corporate insiders own 1.37% of the company’s stock.

Netflix Stock Down 0.1%

Shares of NASDAQ:NFLX opened at $1,260.27 on Wednesday. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The firm has a market cap of $536.33 billion, a P/E ratio of 59.56, a P/E/G ratio of 2.28 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $1,226.71 and a 200 day simple moving average of $1,054.65.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $10.51 billion. During the same period in the prior year, the business posted $8.28 earnings per share. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.