Miracle Mile Advisors LLC Sells 1,913 Shares of Netflix, Inc. (NASDAQ:NFLX)

Miracle Mile Advisors LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 21.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,949 shares of the Internet television network’s stock after selling 1,913 shares during the period. Miracle Mile Advisors LLC’s holdings in Netflix were worth $4,220,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Indiana Trust & Investment Management CO raised its stake in Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares during the period. VitalStone Financial LLC raised its stake in Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares during the period. Scarborough Advisors LLC bought a new stake in Netflix in the 4th quarter valued at $32,000. Beaird Harris Wealth Management LLC raised its stake in Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares during the period. Finally, Spartan Planning & Wealth Management bought a new stake in Netflix in the 3rd quarter valued at $26,000. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of research analyst reports. Pivotal Research increased their price target on Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Macquarie upped their price objective on Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Barclays upped their price objective on Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Guggenheim upped their price objective on Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Sanford C. Bernstein upped their price objective on Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.53.

Insiders Place Their Bets

In other Netflix news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider David A. Hyman sold 268 shares of Netflix stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $18,764,328.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anne M. Sweeney sold 633 shares of Netflix stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,859 shares of company stock worth $29,365,893. 1.76% of the stock is owned by corporate insiders.

Netflix Price Performance

Shares of NFLX opened at $673.61 on Tuesday. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $689.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $290.33 billion, a price-to-earnings ratio of 46.75, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The business has a 50-day moving average of $628.93 and a 200-day moving average of $585.07.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.88 earnings per share. As a group, equities research analysts anticipate that Netflix, Inc. will post 18.31 earnings per share 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.