Portside Wealth Group LLC Has $7.26 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Portside Wealth Group LLC lowered its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 26.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,781 shares of the Internet television network’s stock after selling 2,773 shares during the quarter. Netflix accounts for about 1.2% of Portside Wealth Group LLC’s portfolio, making the stock its 13th biggest position. Portside Wealth Group LLC’s holdings in Netflix were worth $7,256,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NFLX. Pathway Financial Advisers LLC raised its position in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the period. Brown Shipley& Co Ltd bought a new position in shares of Netflix during the fourth quarter worth about $27,000. Transce3nd LLC bought a new position in shares of Netflix during the fourth quarter worth about $32,000. Pineridge Advisors LLC grew its holdings in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after buying an additional 40 shares in the last quarter. Finally, Copia Wealth Management bought a new position in shares of Netflix during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Benchmark reiterated a “hold” rating on shares of Netflix in a report on Monday, April 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $1,220.00 price objective (up from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Oppenheimer reiterated an “outperform” rating and set a $1,200.00 price objective (up from $1,150.00) on shares of Netflix in a report on Friday, April 18th. Piper Sandler set a $1,150.00 price objective on Netflix and gave the stock an “overweight” rating in a report on Monday, April 21st. Finally, Robert W. Baird increased their price objective on Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,149.91.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 2,027 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $1,141.51, for a total transaction of $2,313,840.77. Following the completion of the transaction, the chief executive officer now owns 12,781 shares of the company’s stock, valued at approximately $14,589,639.31. The trade was a 13.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Insiders sold 153,390 shares of company stock valued at $170,509,439 in the last three months. Corporate insiders own 1.37% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,241.47 on Monday. The stock has a market cap of $528.33 billion, a P/E ratio of 62.61, a PEG ratio of 2.12 and a beta of 1.59. The stock has a 50 day simple moving average of $1,087.80 and a 200 day simple moving average of $989.18. 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, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.81.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during 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 in the previous year, the firm earned $8.28 EPS. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.