Austin Private Wealth LLC Sells 29 Shares of Netflix, Inc. (NASDAQ:NFLX)

Austin Private Wealth LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 689 shares of the Internet television network’s stock after selling 29 shares during the period. Austin Private Wealth LLC’s holdings in Netflix were worth $465,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Valued Wealth Advisors LLC increased its stake in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares in the last quarter. VitalStone Financial LLC increased its stake in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC increased its stake in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of Netflix in the fourth quarter worth $32,000. Finally, Indiana Trust & Investment Management CO increased its stake in shares of Netflix by 112.0% in the first 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 in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. TD Cowen increased their price objective on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Bank of America raised their target price on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Evercore ISI raised their target price on shares of Netflix from $700.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Morgan Stanley raised their target price on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Netflix from $525.00 to $550.00 and gave the company a “hold” rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $681.21.

Insider Buying and Selling

In other news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction that occurred on 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 completion of the transaction, the insider now directly 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 SEC, which is available through the SEC website. In other news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on 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 transaction, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,835,750. The disclosure for this sale can be found here. Insiders sold a total of 95,218 shares of company stock valued at $60,687,405 over the last 90 days. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NASDAQ NFLX traded up $3.59 during midday trading on Friday, reaching $633.94. The company had a trading volume of 1,980,836 shares, compared to its average volume of 3,921,475. 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 business’s 50-day simple moving average is $652.98 and its 200 day simple moving average is $618.36. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $697.49. The stock has a market cap of $273.23 billion, a P/E ratio of 43.99, a P/E/G ratio of 1.28 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its 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 net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter last year, the company posted $3.29 earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year. On average, analysts forecast 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.