Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Abundance Wealth Counselors

Abundance Wealth Counselors cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,135 shares of the Internet television network’s stock after selling 246 shares during the quarter. Netflix makes up 1.0% of Abundance Wealth Counselors’ portfolio, making the stock its 19th largest holding. Abundance Wealth Counselors’ holdings in Netflix were worth $2,116,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Valued Wealth Advisors LLC grew its position in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 20 shares during the period. VitalStone Financial LLC lifted 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 buying an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its holdings 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 worth $32,000 after buying an additional 62 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in Netflix during the 4th quarter worth approximately $32,000. Finally, Indiana Trust & Investment Management CO increased its stake in Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. CICC Research initiated coverage on Netflix in a research report on Thursday, May 2nd. They set an “outperform” rating and a $650.00 price target for the company. Redburn Atlantic raised their price target on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. KeyCorp upped their price objective on Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Wells Fargo & Company raised their target price on Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Loop Capital lifted their target price on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $681.21.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 19,943 shares of the 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 completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at $36,114.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 19,943 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $36,114.06. The disclosure for this sale can be found here. Insiders sold a total of 132,893 shares of company stock valued at $84,412,483 in the last three months. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Up 0.2 %

Shares of NFLX traded up $1.54 during midday trading on Thursday, reaching $663.22. The stock had a trading volume of 3,205,120 shares, compared to its average volume of 3,899,201. The company has a market cap of $285.85 billion, a price-to-earnings ratio of 46.02, a PEG ratio of 1.28 and a beta of 1.27. 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 company’s fifty day simple moving average is $653.82 and its two-hundred day simple moving average is $620.51. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $697.49.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the previous year, the firm earned $3.29 EPS. The company’s revenue was up 16.8% compared to the same quarter last year. Equities research analysts expect that Netflix, Inc. will post 19.08 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.