Balentine LLC Sells 7,337 Shares of Netflix, Inc. (NASDAQ:NFLX)

Balentine LLC decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 90.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 735 shares of the Internet television network’s stock after selling 7,337 shares during the period. Balentine LLC’s holdings in Netflix were worth $496,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Denver PWM LLC purchased a new stake in shares of Netflix in the second quarter worth about $25,000. Valued Wealth Advisors LLC raised its stake in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares during the last quarter. VitalStone Financial LLC increased its holdings in Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its position in Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in Netflix during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on NFLX shares. Guggenheim boosted their target price on Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Piper Sandler increased their price objective on shares of Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Sanford C. Bernstein lifted their target price on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Macquarie restated an “outperform” rating and set a $685.00 target price on shares of Netflix in a research note on Tuesday, July 16th. Finally, Bank of America boosted their price objective on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $685.29.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $57,878.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Netflix news, Director Leslie J. Kilgore sold 1,372 shares of Netflix stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total value of $966,999.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. The disclosure for this sale can be found here. Insiders sold a total of 157,831 shares of company stock worth $102,721,884 in the last quarter. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Performance

Shares of NFLX stock opened at $675.42 on Tuesday. The stock’s fifty day simple moving average is $659.93 and its 200-day simple moving average is $635.27. The company has a market capitalization of $289.87 billion, a price-to-earnings ratio of 46.87, a P/E/G ratio of 1.36 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $711.33.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.29 EPS. On average, sell-side analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal 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.