New World Advisors LLC Sells 230 Shares of Netflix, Inc. (NASDAQ:NFLX)

New World Advisors LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 32.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 484 shares of the Internet television network’s stock after selling 230 shares during the quarter. New World Advisors LLC’s holdings in Netflix were worth $451,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after buying an additional 257 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after acquiring an additional 144 shares during the last quarter. FourThought Financial Partners LLC bought a new stake in Netflix during the fourth quarter worth $1,025,000. Delta Financial Advisors LLC boosted its position in Netflix by 4.0% in the fourth quarter. Delta Financial Advisors LLC now owns 391 shares of the Internet television network’s stock worth $349,000 after purchasing an additional 15 shares during the last quarter. Finally, FFT Wealth Management LLC purchased a new position in Netflix in the fourth quarter worth $209,000. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.3%

Shares of NFLX stock opened at $1,275.25 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,298.00. The company has a market capitalization of $542.71 billion, a PE ratio of 60.27, a price-to-earnings-growth ratio of 2.47 and a beta of 1.59. The business’s fifty day moving average is $1,169.57 and its 200 day moving average is $1,018.04.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share 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 for the quarter, compared to analyst estimates of $10.51 billion. During the same period in the prior year, the company earned $8.28 EPS. On average, equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the subject of several research analyst reports. Bank of America raised their target price on Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a research report on Friday, May 30th. UBS Group increased their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Robert W. Baird lifted their price objective on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Wells Fargo & Company boosted their target price on shares of Netflix from $1,222.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Finally, Oppenheimer raised their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an “outperform” rating in a research note on Thursday, June 12th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,172.73.

Insider Activity at Netflix

In related news, insider Cletus R. Willems sold 298 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total value of $339,124.00. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $35,972,180. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,402,068.52. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,660 shares of company stock valued at $209,802,025 over the last three months. 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.