SlateStone Wealth LLC Sells 75 Shares of Netflix, Inc. (NASDAQ:NFLX)

SlateStone Wealth LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 18.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 321 shares of the Internet television network’s stock after selling 75 shares during the quarter. SlateStone Wealth LLC’s holdings in Netflix were worth $217,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NFLX. Obermeyer Wood Investment Counsel Lllp grew its position in shares of Netflix by 2.8% during the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after purchasing an additional 17 shares in the last quarter. Private Portfolio Partners LLC increased its stake in Netflix by 1.7% in the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after acquiring an additional 17 shares during the last quarter. Legacy Capital Group California Inc. boosted its position in shares of Netflix by 0.6% during the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after acquiring an additional 18 shares during the last quarter. Founders Financial Alliance LLC boosted its position in shares of Netflix by 2.4% during the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after acquiring an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Netflix by 4.6% during the first quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX opened at $688.44 on Tuesday. Netflix, Inc. has a one year low of $344.73 and a one year high of $711.33. The company has a 50-day simple moving average of $658.60 and a two-hundred day simple moving average of $627.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $296.72 billion, a PE ratio of 47.78, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.29 earnings per share. On average, analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 19,943 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94. Following the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $36,114.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Chairman Reed Hastings sold 19,943 shares of Netflix stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94. Following the completion of the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $36,114.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. Insiders sold a total of 152,700 shares of company stock worth $98,283,982 in the last three months. 1.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NFLX. Macquarie reiterated an “outperform” rating and set a $685.00 target price on shares of Netflix in a research report on Tuesday, July 16th. Evercore ISI raised their price objective on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group upped their target price on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Jefferies Financial Group raised their price target on Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Bank of America upped their price objective on Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $682.42.

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.