Mascagni Wealth Management Inc. Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Mascagni Wealth Management Inc. cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 38.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 592 shares of the Internet television network’s stock after selling 365 shares during the quarter. Mascagni Wealth Management Inc.’s holdings in Netflix were worth $528,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NFLX. West Michigan Advisors LLC boosted its holdings in Netflix by 1.3% in the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after acquiring an additional 10 shares in the last quarter. Warwick Investment Management Inc. boosted its holdings in Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after acquiring an additional 10 shares in the last quarter. MRP Capital Investments LLC boosted its holdings in Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock worth $938,000 after acquiring an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC boosted its holdings in Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after acquiring an additional 10 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. lifted its holdings in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock valued at $3,410,000 after purchasing an additional 10 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NFLX shares. Wells Fargo & Company upped their price target on Netflix from $1,222.00 to $1,500.00 and gave the company an “overweight” rating in a report on Friday. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a report on Monday, March 24th. Robert W. Baird upped their price target on Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Cfra Research raised Netflix to a “strong-buy” rating in a report on Monday, April 28th. Finally, Guggenheim reaffirmed a “buy” rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Eleven 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,172.73.

Netflix Stock Performance

Shares of NFLX opened at $1,253.54 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $1,157.24 and a two-hundred day simple moving average of $1,014.42. The stock has a market cap of $533.47 billion, a price-to-earnings ratio of 59.24, a PEG ratio of 2.38 and a beta of 1.59. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,262.81.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter in the prior year, the business posted $8.28 earnings per share. On average, analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In related news, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction dated Thursday, June 5th. The stock was 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 approximately $78,948,144. This trade represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 1,358 shares of the 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,660 shares of company stock worth $209,802,025. 1.37% of the stock is owned by corporate insiders.

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.