Netflix, Inc. (NASDAQ:NFLX) Stock Holdings Lessened by ARS Wealth Advisors Group LLC

ARS Wealth Advisors Group LLC reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 11.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,380 shares of the Internet television network’s stock after selling 170 shares during the quarter. ARS Wealth Advisors Group LLC’s holdings in Netflix were worth $931,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after acquiring an additional 149,341 shares during the period. Capital World Investors increased its holdings in shares of Netflix by 0.7% in the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after acquiring an additional 78,320 shares during the period. Jennison Associates LLC increased its holdings in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares during the period. Norges Bank acquired a new stake in shares of Netflix in the 4th quarter worth about $2,558,598,000. Finally, Fisher Asset Management LLC increased its holdings in shares of Netflix by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after acquiring an additional 78,298 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 37,675 shares of Netflix stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $629.73, for a total value of $23,725,077.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Spencer Adam Neumann sold 433 shares of Netflix 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jay C. Hoag sold 37,675 shares of Netflix stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $629.73, for a total transaction of $23,725,077.75. The disclosure for this sale can be found here. Insiders sold 132,893 shares of company stock worth $84,412,483 over the last ninety days. 1.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of analyst reports. Guggenheim increased their price objective on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Rosenblatt Securities raised their target price on shares of Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Piper Sandler raised their target price on shares of Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Wedbush reissued an “outperform” rating and set a $725.00 target price on shares of Netflix in a research note on Monday, May 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $681.21.

Netflix Stock Up 1.6 %

NASDAQ NFLX traded up $10.85 during trading on Friday, reaching $674.07. The company’s stock had a trading volume of 3,511,014 shares, compared to its average volume of 3,896,356. 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 $290.52 billion, a PE ratio of 46.78, a PEG ratio of 1.28 and a beta of 1.27. The business has a 50-day moving average price of $654.47 and a 200-day moving average price of $621.61. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $697.49.

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, beating analysts’ consensus estimates of $4.74 by $0.14. The firm 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 company’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.29 earnings per share. On average, research analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

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.