Netflix, Inc. (NASDAQ:NFLX) Position Lowered by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 879 shares of the Internet television network’s stock after selling 42 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Netflix were worth $623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Denver PWM LLC bought a new stake in shares of Netflix during the 2nd quarter valued at about $25,000. Valued Wealth Advisors LLC boosted its stake in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the period. Proffitt & Goodson Inc. boosted its stake in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares during the period. AlphaMark Advisors LLC grew its holdings in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares during the last quarter. Finally, Indiana Trust & Investment Management CO raised its position in shares of Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 11.1 %

NASDAQ:NFLX opened at $763.89 on Friday. The business’s fifty day moving average price is $696.38 and its 200 day moving average price is $654.94. The firm has a market capitalization of $329.24 billion, a price-to-earnings ratio of 53.01, a PEG ratio of 1.49 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 $392.26 and a 1-year high of $766.28.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Sanford C. Bernstein boosted their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday. Barclays reissued an “underweight” rating and set a $550.00 price target on shares of Netflix in a report on Friday. Loop Capital increased their price objective on shares of Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets reissued an “outperform” rating and set a $825.00 target price (up from $770.00) on shares of Netflix in a research note on Friday. Finally, Wedbush raised their price target on shares of Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $747.70.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at $35,991.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is owned by company insiders.

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.