Facet Wealth Inc. Sells 58 Shares of Netflix, Inc. (NASDAQ:NFLX)

Facet Wealth Inc. trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.8% in the first quarter, HoldingsChannel.com reports. The fund owned 1,162 shares of the Internet television network’s stock after selling 58 shares during the period. Facet Wealth Inc.’s holdings in Netflix were worth $1,084,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Halbert Hargrove Global Advisors LLC raised its stake in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd bought a new position in Netflix during the fourth quarter valued at about $27,000. Transce3nd LLC purchased a new stake in Netflix during the fourth quarter worth about $32,000. Copia Wealth Management bought a new stake in Netflix in the fourth quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. raised its position in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after acquiring an additional 45 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Netflix news, Director Reed Hastings sold 9,673 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the completion of the sale, the director directly owned 394 shares of the company’s stock, valued at $523,669.34. The trade was a 96.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Strive Masiyiwa sold 290 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. Insiders have sold 185,923 shares of company stock worth $222,445,095 in the last ninety days. 1.37% of the stock is currently owned by insiders.

Netflix Price Performance

Shares of Netflix stock opened at $1,180.49 on Monday. The firm has a market capitalization of $501.63 billion, a PE ratio of 50.30, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The business’s 50-day moving average price is $1,236.44 and its 200-day moving average price is $1,074.14.

Netflix (NASDAQ:NFLX) last issued its earnings results 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. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the firm earned $4.88 earnings per share. Netflix’s revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NFLX shares. BMO Capital Markets reissued an “outperform” rating and set a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. TD Cowen increased their price objective on Netflix from $1,440.00 to $1,450.00 and gave the company a “buy” rating in a report on Friday, July 18th. Morgan Stanley reissued an “equal weight” rating on shares of Netflix in a research report on Monday, July 21st. Needham & Company LLC restated a “buy” rating and issued a $1,500.00 target price on shares of Netflix in a research note on Friday, July 18th. Finally, Loop Capital reaffirmed a “hold” rating on shares of Netflix in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,297.66.

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.