Wealth Alliance Has $2.69 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Wealth Alliance cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 12.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,991 shares of the Internet television network’s stock after selling 582 shares during the period. Wealth Alliance’s holdings in Netflix were worth $2,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares during the last quarter. GQG Partners LLC bought a new position in shares of Netflix in the 1st quarter valued at $1,450,476,000. Jennison Associates LLC increased its stake in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Netflix in the 1st quarter valued at $436,514,000. Finally, Jericho Capital Asset Management L.P. bought a new position in shares of Netflix in the 1st quarter valued at $372,293,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Leslie J. Kilgore sold 1,372 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total value of $966,999.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 196,798 shares of company stock valued at $129,552,672. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. China Renaissance started coverage on Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 price target on the stock. Bank of America boosted their price objective on Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Benchmark boosted their price objective on Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research report on Tuesday, July 16th. Citigroup boosted their price objective on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Sunday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Netflix Stock Performance

Shares of NFLX opened at $706.91 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50 day moving average price of $660.64 and a two-hundred day moving average price of $639.15. The firm has a market capitalization of $304.68 billion, a P/E ratio of 49.06, a P/E/G 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.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during 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 company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.29 EPS. Equities analysts forecast that Netflix, Inc. will post 19.08 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.