Netflix, Inc. (NASDAQ:NFLX) Shares Sold by CapWealth Advisors LLC

CapWealth Advisors LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,687 shares of the Internet television network’s stock after selling 371 shares during the quarter. Netflix accounts for approximately 2.5% of CapWealth Advisors LLC’s holdings, making the stock its 13th largest position. CapWealth Advisors LLC’s holdings in Netflix were worth $20,035,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. 9258 Wealth Management LLC raised its stake in Netflix by 48.1% during the second quarter. 9258 Wealth Management LLC now owns 659 shares of the Internet television network’s stock worth $445,000 after acquiring an additional 214 shares during the period. SouthState Corp lifted its holdings in shares of Netflix by 8.9% in the 2nd quarter. SouthState Corp now owns 331 shares of the Internet television network’s stock worth $223,000 after purchasing an additional 27 shares during the last quarter. Hohimer Wealth Management LLC bought a new stake in shares of Netflix in the 2nd quarter worth approximately $1,004,000. MGO Private Wealth LLC acquired a new position in Netflix during the 2nd quarter valued at approximately $214,000. Finally, Mayflower Financial Advisors LLC grew its stake in Netflix by 16.3% during the 2nd quarter. Mayflower Financial Advisors LLC now owns 591 shares of the Internet television network’s stock worth $399,000 after buying an additional 83 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Argus boosted their price target on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Evercore ISI boosted their target price on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, August 27th. Oppenheimer restated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research note on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research report on Monday, May 20th. Finally, UBS Group raised their target price on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $685.29.

Insider Buying and Selling

In related news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,043,019.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Insiders have sold 157,831 shares of company stock worth $102,721,884 in the last quarter. 1.76% of the stock is currently owned by company insiders.

Netflix Trading Up 0.6 %

Shares of NASDAQ:NFLX opened at $683.62 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $294.64 billion, a PE ratio of 47.44, a P/E/G ratio of 1.44 and a beta of 1.27. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $711.33. The firm has a fifty day moving average price of $660.07 and a 200 day moving average price of $633.26.

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

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.