Wealth Alliance LLC Has $3.14 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Wealth Alliance LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 8.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,368 shares of the Internet television network’s stock after selling 319 shares during the quarter. Wealth Alliance LLC’s holdings in Netflix were worth $3,140,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Halbert Hargrove Global Advisors LLC increased its holdings in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new position in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the 4th quarter worth approximately $32,000. Copia Wealth Management purchased a new position in shares of Netflix in the 4th quarter worth approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Netflix in the first quarter valued at approximately $42,000. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction on 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 owned 3,691 shares in the company, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Reed Hastings sold 16,840 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,295.78, for a total transaction of $21,820,935.20. Following the completion of the sale, the director directly owned 10,067 shares of the company’s stock, valued at $13,044,617.26. The trade was a 62.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock worth $223,307,201 in the last quarter. 1.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NFLX shares. Rosenblatt Securities upped their price target on shares of Netflix from $1,514.00 to $1,515.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on Netflix from $1,230.00 to $1,300.00 and gave the stock a “neutral” rating in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $1,500.00 price target on shares of Netflix in a research report on Friday. Moffett Nathanson restated a “buy” rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, Wedbush reiterated an “outperform” rating and set a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,291.41.

Netflix Trading Down 5.1%

NASDAQ NFLX opened at $1,209.24 on Friday. The stock has a market cap of $514.62 billion, a P/E ratio of 51.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a 50 day simple moving average of $1,232.59 and a two-hundred day simple moving average of $1,061.94. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 43.00% and a net margin of 24.58%. The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the previous year, the business earned $4.88 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. On average, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix Company 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.