Lake Street Private Wealth LLC Reduces Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Lake Street Private Wealth LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,287 shares of the Internet television network’s stock after selling 55 shares during the period. Lake Street Private Wealth LLC’s holdings in Netflix were worth $1,200,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of NFLX. Brown Shipley& Co Ltd bought a new stake in Netflix during the 4th quarter valued at $27,000. Pathway Financial Advisers LLC raised its holdings in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the period. Transce3nd LLC bought a new stake in Netflix during the 4th quarter valued at $32,000. Pineridge Advisors LLC raised its holdings in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares during the period. Finally, Copia Wealth Management bought a new stake in Netflix during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 1.8%

Shares of NASDAQ:NFLX opened at $1,239.66 on Thursday. The stock’s 50-day moving average price is $1,075.18 and its 200-day moving average price is $982.47. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,244.10. The stock has a market capitalization of $527.56 billion, a P/E ratio of 62.51, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the firm earned $8.28 earnings per share. On average, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Evercore ISI reaffirmed an “outperform” rating on shares of Netflix in a report on Thursday, May 15th. Robert W. Baird upped their price target on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $1,220.00 price target (up previously from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Finally, Jefferies Financial Group upped their price target on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average price target of $1,149.91.

Insider Buying and Selling

In related news, Director Ann Mather sold 1,358 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $1,150.00, for a total value of $1,561,700.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Reed Hastings sold 26,933 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the completion of the sale, the director now directly owns 394 shares in the company, valued at $477,394.04. The trade was a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,300 shares of company stock valued at $169,146,939 over the last ninety days. 1.37% of the stock is owned by insiders.

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.