Zweig DiMenna Associates LLC Sells 3,984 Shares of Netflix, Inc. (NASDAQ:NFLX)

Zweig DiMenna Associates LLC lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 31.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 8,710 shares of the Internet television network’s stock after selling 3,984 shares during the period. Netflix makes up about 1.3% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 29th largest position. Zweig DiMenna Associates LLC’s holdings in Netflix were worth $8,122,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NFLX. Brighton Jones LLC increased its position in shares of 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 in the last quarter. Revolve Wealth Partners LLC increased its position 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. BIP Wealth LLC increased its position in shares of Netflix by 23.8% in 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. Modern Wealth Management LLC increased its position in shares of Netflix by 37.1% in the 4th quarter. Modern Wealth Management LLC now owns 1,031 shares of the Internet television network’s stock valued at $919,000 after buying an additional 279 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC increased its position in shares of Netflix by 8.3% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 562 shares of the Internet television network’s stock valued at $501,000 after buying an additional 43 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 0.3%

Shares of NASDAQ:NFLX opened at $1,180.76 on Friday. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The company has a market capitalization of $501.74 billion, a P/E ratio of 50.31, a price-to-earnings-growth ratio of 1.98 and a beta of 1.59. The company has a 50-day simple moving average of $1,236.66 and a 200 day simple moving average of $1,069.32. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.34.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $4.88 earnings per share. Sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NFLX shares. Robert W. Baird increased their target price on Netflix from $1,300.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. increased 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, July 18th. Barclays reiterated 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. Needham & Company LLC reiterated a “buy” rating and set a $1,500.00 target price on shares of Netflix in a report on Friday, July 18th. Finally, Piper Sandler increased their target price on Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $1,297.66.

Insider Activity

In other Netflix news, Director Ann Mather sold 1,090 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reed Hastings sold 9,673 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the sale, the director owned 394 shares of the company’s stock, valued at $523,669.34. This trade represents a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,923 shares of company stock valued at $222,445,095. Company insiders own 1.37% of the company’s stock.

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.