Integrated Advisors Network LLC Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Integrated Advisors Network LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 31.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 5,073 shares of the Internet television network’s stock after selling 2,310 shares during the quarter. Integrated Advisors Network LLC’s holdings in Netflix were worth $4,731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Integral Investment Advisors Inc. lifted its holdings in Netflix by 43.3% during the first quarter. Integral Investment Advisors Inc. now owns 473 shares of the Internet television network’s stock valued at $441,000 after purchasing an additional 143 shares during the last quarter. Sarasin & Partners LLP purchased a new stake in Netflix during the first quarter valued at about $17,214,000. Moseley Investment Management Inc. lifted its holdings in Netflix by 1.7% during the first quarter. Moseley Investment Management Inc. now owns 2,692 shares of the Internet television network’s stock valued at $2,510,000 after purchasing an additional 44 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Netflix by 55.7% during the first quarter. Handelsbanken Fonder AB now owns 308,107 shares of the Internet television network’s stock valued at $287,319,000 after purchasing an additional 110,162 shares during the last quarter. Finally, Petredis Investment Advisors LLC lifted its holdings in Netflix by 0.8% during the first quarter. Petredis Investment Advisors LLC now owns 7,996 shares of the Internet television network’s stock valued at $7,457,000 after purchasing an additional 61 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. FBN Securities started coverage on shares of Netflix in a report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price objective on the stock. Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the stock an “overweight” rating in a report on Monday, April 21st. Benchmark reissued a “hold” rating on shares of Netflix in a report on Monday, April 21st. Moffett Nathanson reissued a “buy” rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, Jefferies Financial Group raised their target price on shares of Netflix from $1,200.00 to $1,400.00 and gave the company a “buy” rating in a research note on Tuesday, June 3rd. 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 company has an average rating of “Moderate Buy” and an average target price of $1,149.91.

Insider Buying and Selling at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares of the company’s stock, valued at $362,933.10. The trade was a 98.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,140 shares of company stock valued at $210,271,552. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Performance

Shares of Netflix stock opened at $1,203.62 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $512.23 billion, a P/E ratio of 60.70, a P/E/G ratio of 2.12 and a beta of 1.59. The business has a fifty day simple moving average of $1,099.31 and a two-hundred day simple moving average of $992.93. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,262.81.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter last year, the firm posted $8.28 earnings per share. On average, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.