Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Vivid Wealth Management LLC

Vivid Wealth Management LLC lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 11.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,643 shares of the Internet television network’s stock after selling 343 shares during the period. Netflix comprises approximately 1.2% of Vivid Wealth Management LLC’s investment portfolio, making the stock its 28th biggest position. Vivid Wealth Management LLC’s holdings in Netflix were worth $2,465,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brown Shipley& Co Ltd acquired a new position in shares of Netflix during the 4th quarter worth about $27,000. Transce3nd LLC acquired a new position in shares of Netflix during the 4th quarter worth about $32,000. Copia Wealth Management acquired a new position in shares of Netflix during the 4th quarter worth about $37,000. Stuart Chaussee & Associates Inc. raised its position in shares of Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after purchasing an additional 45 shares during the last quarter. Finally, FPC Investment Advisory Inc. raised its position in shares of Netflix by 628.6% during the 4th quarter. FPC Investment Advisory Inc. now owns 51 shares of the Internet television network’s stock worth $50,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ann Mather sold 1,090 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director now owns 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock worth $210,271,552 in the last ninety days. 1.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on NFLX. Moffett Nathanson restated a “buy” rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Bank of America upped their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the company an “outperform” rating in a research note on Friday, May 16th. Wells Fargo & Company upped their price objective on shares of Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the company an “overweight” rating in a research note on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,156.73.

Netflix Stock Performance

Shares of NFLX stock opened at $1,225.35 on Tuesday. The firm’s 50 day moving average price is $1,127.47 and its 200-day moving average price is $1,003.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,262.81. The firm has a market cap of $521.47 billion, a P/E ratio of 61.79, a P/E/G ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the prior year, the business earned $8.28 EPS. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current 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.