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

Sequoia Financial Advisors LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 31.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,479 shares of the Internet television network’s stock after selling 5,378 shares during the period. Sequoia Financial Advisors LLC’s holdings in Netflix were worth $6,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. Diversify Advisory Services LLC acquired a new position in shares of Netflix in the first quarter worth about $3,083,000. SeaBridge Investment Advisors LLC raised its position in shares of Netflix by 10.1% in the first quarter. SeaBridge Investment Advisors LLC now owns 4,983 shares of the Internet television network’s stock worth $3,026,000 after acquiring an additional 457 shares during the period. North Star Investment Management Corp. raised its position in shares of Netflix by 3.3% in the first quarter. North Star Investment Management Corp. now owns 1,626 shares of the Internet television network’s stock worth $988,000 after acquiring an additional 52 shares during the period. Norden Group LLC raised its position in shares of Netflix by 19.3% in the first quarter. Norden Group LLC now owns 8,616 shares of the Internet television network’s stock worth $5,233,000 after acquiring an additional 1,394 shares during the period. Finally, HB Wealth Management LLC increased its stake in shares of Netflix by 12.4% during the first quarter. HB Wealth Management LLC now owns 10,492 shares of the Internet television network’s stock worth $6,372,000 after purchasing an additional 1,154 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now directly owns 57 shares in the company, valued at approximately $38,217.93. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,835,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at $38,217.93. The disclosure for this sale can be found here. Insiders have sold a total of 71,385 shares of company stock worth $44,469,351 in the last ninety days. 1.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NFLX. Evercore ISI boosted their target price on shares of Netflix from $650.00 to $700.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 28th. Guggenheim boosted their target price on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Sanford C. Bernstein boosted their target price on shares of Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a research note on Friday, April 19th. Morgan Stanley boosted their target price on shares of Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $585.00 target price (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $637.34.

Netflix Trading Up 1.2 %

Shares of NFLX stock traded up $8.14 during trading hours on Friday, hitting $690.65. The company had a trading volume of 2,659,065 shares, compared to its average volume of 2,490,949. The company’s fifty day moving average is $640.84 and its 200 day moving average is $590.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $697.49. The stock has a market capitalization of $297.67 billion, a PE ratio of 47.93, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.88 EPS. Research analysts expect that Netflix, Inc. will post 18.31 earnings per share 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.