Motley Fool Wealth Management LLC Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Motley Fool Wealth Management LLC trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.2% in the first quarter, Holdings Channel.com reports. The firm owned 50,570 shares of the Internet television network’s stock after selling 7,021 shares during the quarter. Netflix comprises approximately 2.8% of Motley Fool Wealth Management LLC’s investment portfolio, making the stock its 6th biggest position. Motley Fool Wealth Management LLC’s holdings in Netflix were worth $47,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Independent Advisor Alliance grew its stake in shares of Netflix by 9.3% during the first quarter. Independent Advisor Alliance now owns 26,720 shares of the Internet television network’s stock worth $24,917,000 after buying an additional 2,270 shares during the last quarter. First American Trust FSB lifted its stake in shares of Netflix by 50.8% in the 1st quarter. First American Trust FSB now owns 356 shares of the Internet television network’s stock valued at $332,000 after acquiring an additional 120 shares during the last quarter. SouthState Corp boosted its holdings in shares of Netflix by 450.0% during the 1st quarter. SouthState Corp now owns 1,287 shares of the Internet television network’s stock valued at $1,200,000 after acquiring an additional 1,053 shares in the last quarter. Nuveen LLC bought a new stake in Netflix during the 1st quarter worth $2,385,585,000. Finally, Advent Capital Management DE acquired a new position in Netflix in the 1st quarter worth about $3,264,000. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company lifted their price target on Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. raised their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a “neutral” rating in a report on Friday, July 18th. The Goldman Sachs Group lifted their target price on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Benchmark restated a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Finally, Jefferies Financial Group set a $1,500.00 price target on shares of Netflix and gave the company a “buy” rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,297.66.

Netflix Stock Performance

Shares of Netflix stock opened at $1,211.64 on Monday. Netflix, Inc. has a 52 week low of $622.99 and a 52 week high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $1,232.25 and a 200-day moving average price of $1,095.21. The company has a market cap of $514.86 billion, a PE ratio of 51.63, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. Netflix’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.88 EPS. Equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, Director Reed Hastings sold 26,933 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the completion of the sale, the director directly owned 394 shares of the company’s stock, valued at approximately $477,394.04. This represents a 98.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of Netflix stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the transaction, the chief executive officer directly owned 12,781 shares in the company, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,307 shares of company stock valued at $179,443,809 over the last ninety days. Company insiders own 1.37% of the company’s stock.

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.