Spectrum Wealth Counsel LLC Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Spectrum Wealth Counsel LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 487 shares of the Internet television network’s stock after selling 28 shares during the period. Spectrum Wealth Counsel LLC’s holdings in Netflix were worth $329,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position 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 valued at $22,220,936,000 after acquiring an additional 149,341 shares during the period. Capital World Investors grew its stake in Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after purchasing an additional 78,320 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares during the period. Norges Bank purchased a new position in shares of Netflix in the fourth quarter worth about $2,558,598,000. Finally, Baillie Gifford & Co. lifted its holdings in shares of Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after purchasing an additional 106,756 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Netflix

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

Netflix Trading Up 1.5 %

Shares of NFLX stock opened at $697.06 on Friday. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $711.33. The company has a market capitalization of $299.16 billion, a price-to-earnings ratio of 48.37, a PEG ratio of 1.40 and a beta of 1.26. The firm has a 50-day moving average price of $660.00 and a 200 day moving average price of $637.59. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein increased their price target on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Morgan Stanley increased their price objective on shares of Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Rosenblatt Securities raised their target price on shares of Netflix from $554.00 to $635.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Argus upped their price target on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, UBS Group lifted their price objective on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, July 19th. 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. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $685.29.

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.