Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Paces Ferry Wealth Advisors LLC

Paces Ferry Wealth Advisors LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,341 shares of the Internet television network’s stock after selling 118 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in Netflix were worth $905,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Denver PWM LLC acquired a new stake in shares of Netflix in the second quarter valued at $25,000. Valued Wealth Advisors LLC increased its holdings in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the period. Proffitt & Goodson Inc. increased its holdings in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the period. AlphaMark Advisors LLC raised its position in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. Finally, Indiana Trust & Investment Management CO boosted its stake in shares of 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 buying an additional 28 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction on 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 approximately $19,128,159.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $38,217.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 196,798 shares of company stock worth $129,552,672. 1.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent research reports. Oppenheimer restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a research note on Tuesday, July 30th. The Goldman Sachs Group increased their price objective on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Benchmark lifted their price objective on shares of Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research report on Tuesday, July 16th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 target price on shares of Netflix in a report on Friday, July 19th. Finally, Guggenheim raised their price target on Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $685.29.

Netflix Trading Down 2.3 %

Shares of Netflix stock opened at $690.47 on Thursday. The firm has a market cap of $297.59 billion, a price-to-earnings ratio of 47.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $711.33. The company’s 50-day simple moving average is $660.90 and its 200-day simple moving average is $639.51. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

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

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.