Ithaka Group LLC Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Ithaka Group LLC reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,403 shares of the Internet television network’s stock after selling 120 shares during the period. Netflix makes up 2.9% of Ithaka Group LLC’s portfolio, making the stock its 14th largest holding. Ithaka Group LLC’s holdings in Netflix were worth $15,794,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Denver PWM LLC bought a new stake in Netflix during the 2nd quarter valued at $25,000. Valued Wealth Advisors LLC boosted its position in shares of Netflix by 80.0% in the 1st 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 position in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after buying an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its stake in Netflix by 1,550.0% in the 4th 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. Finally, Scarborough Advisors LLC acquired a new stake in shares of Netflix during the fourth quarter worth $32,000. 80.93% of the stock is currently owned by institutional investors.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. Insiders sold 196,798 shares of company stock valued at $129,552,672 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Netflix Trading Up 1.5 %

NFLX opened at $697.06 on Monday. The firm has a 50-day moving average price of $660.00 and a two-hundred day moving average price of $637.88. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $711.33. 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 $299.16 billion, a PE ratio of 48.37, a PEG ratio of 1.40 and a beta of 1.26.

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

Wall Street Analysts Forecast Growth

NFLX has been the topic of several analyst reports. Guggenheim increased their price target on Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group raised their price objective on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Pivotal Research increased their price objective on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 30th. KeyCorp boosted their target price on Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Piper Sandler raised their price objective on shares of Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $685.29.

Netflix 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.