Wealth Alliance Sells 582 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wealth Alliance trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,991 shares of the Internet television network’s stock after selling 582 shares during the period. Wealth Alliance’s holdings in Netflix were worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bradley Foster & Sargent Inc. CT lifted its position in shares of Netflix by 55.1% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 1,556 shares of the Internet television network’s stock worth $1,050,000 after acquiring an additional 553 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Netflix by 11.6% during the second quarter. Axxcess Wealth Management LLC now owns 25,700 shares of the Internet television network’s stock worth $17,344,000 after acquiring an additional 2,681 shares in the last quarter. Fairway Wealth LLC lifted its position in shares of Netflix by 23.3% during the second quarter. Fairway Wealth LLC now owns 249 shares of the Internet television network’s stock worth $168,000 after acquiring an additional 47 shares in the last quarter. Abbot Financial Management Inc. lifted its position in shares of Netflix by 13.9% during the second quarter. Abbot Financial Management Inc. now owns 1,141 shares of the Internet television network’s stock worth $770,000 after acquiring an additional 139 shares in the last quarter. Finally, Perennial Investment Advisors LLC lifted its position in shares of Netflix by 3.9% during the second quarter. Perennial Investment Advisors LLC now owns 1,358 shares of the Internet television network’s stock worth $916,000 after acquiring an additional 51 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Stock Up 1.5 %

NASDAQ NFLX opened at $706.91 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $304.68 billion, a PE ratio of 49.06, a PEG ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $711.33. The business’s 50-day moving average is $660.64 and its 200 day moving average is $639.15.

Netflix (NASDAQ:NFLX) last posted 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. 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%. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the firm earned $3.29 earnings per share. Sell-side analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares in the company, valued at $65,299,132.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 20,656 shares of the firm’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 sale, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The disclosure for this sale can be found here. Insiders have sold 196,798 shares of company stock valued at $129,552,672 over the last ninety days. 1.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several recent research reports. Oppenheimer restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a research report on Tuesday, July 30th. The Goldman Sachs Group increased their target price on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Guggenheim increased their price objective on Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Macquarie reiterated an “outperform” rating and issued a $685.00 price objective on shares of Netflix in a research report on Tuesday, July 16th. Finally, Evercore ISI increased their price objective on Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

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.