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

Opal Wealth Advisors LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 9.1% during the first quarter, HoldingsChannel.com reports. The firm owned 889 shares of the Internet television network’s stock after selling 89 shares during the period. Opal Wealth Advisors LLC’s holdings in Netflix were worth $829,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NFLX. Pathway Financial Advisers LLC raised its position in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix during the 4th quarter valued at approximately $27,000. Transce3nd LLC acquired a new stake in shares of Netflix during the 4th quarter valued at approximately $32,000. Copia Wealth Management acquired a new stake in shares of Netflix during the 4th quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. raised its position in shares of Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock valued at $41,000 after acquiring an additional 45 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Down 0.2%

Shares of NFLX stock opened at $1,212.15 on Friday. The stock has a 50-day simple moving average of $1,120.37 and a 200 day simple moving average of $999.25. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The stock has a market capitalization of $515.86 billion, a P/E ratio of 61.13, a P/E/G ratio of 2.12 and a beta of 1.59. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its 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 38.32% and a net margin of 22.34%. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter last year, the business posted $8.28 earnings per share. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction on 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 transaction, the chairman now owns 394 shares in the company, valued at $362,933.10. This trade represents a 98.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Insiders sold 185,140 shares of company stock valued at $210,271,552 over the last 90 days. 1.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NFLX shares. BMO Capital Markets reissued an “outperform” rating and set a $1,200.00 price target (up from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Bank of America upped their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Piper Sandler set a $1,150.00 price target on Netflix and gave the company an “overweight” rating in a research report on Monday, April 21st. Wells Fargo & Company upped their price target on Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Finally, Cfra Research raised Netflix to a “strong-buy” rating in a research report on Monday, April 28th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average price target of $1,156.73.

Netflix 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.