Simmons Bank Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Simmons Bank trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 379 shares of the Internet television network’s stock after selling 16 shares during the quarter. Simmons Bank’s holdings in Netflix were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. HM Payson & Co. grew its stake in Netflix by 1.9% during the 1st quarter. HM Payson & Co. now owns 2,170 shares of the Internet television network’s stock worth $2,024,000 after buying an additional 41 shares during the last quarter. World Investment Advisors grew its stake in Netflix by 0.3% during the 1st quarter. World Investment Advisors now owns 4,340 shares of the Internet television network’s stock worth $4,048,000 after buying an additional 12 shares during the last quarter. Wayfinding Financial LLC grew its stake in Netflix by 1.8% during the 1st quarter. Wayfinding Financial LLC now owns 776 shares of the Internet television network’s stock worth $723,000 after buying an additional 14 shares during the last quarter. Jackson Thornton Wealth Management LLC purchased a new position in Netflix during the 1st quarter worth $262,000. Finally, Columbia River Financial Group LLC purchased a new position in Netflix during the 1st quarter worth $94,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In other Netflix news, Director Reed Hastings sold 9,673 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the completion of the sale, the director directly owned 394 shares in the company, valued at approximately $523,669.34. The trade was a 96.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Strive Masiyiwa sold 290 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. Insiders sold 186,723 shares of company stock worth $223,307,201 in the last quarter. Corporate insiders own 1.37% of the company’s stock.

Netflix Price Performance

Shares of Netflix stock opened at $1,295.24 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The business has a 50-day moving average price of $1,207.87 and a 200 day moving average price of $1,037.61. The firm has a market cap of $551.21 billion, a PE ratio of 61.21, a P/E/G ratio of 2.35 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the business earned $8.28 EPS. Sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research analyst reports. Macquarie boosted their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. The Goldman Sachs Group boosted their target price on Netflix from $1,000.00 to $1,140.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on Netflix from $1,222.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $1,126.00 price target on shares of Netflix in a research report on Thursday, April 17th. Finally, Piper Sandler set a $1,150.00 price target on Netflix and gave the stock an “overweight” rating in a research report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,182.58.

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.