Kelman Lazarov Inc. Sells 21 Shares of Netflix, Inc. $NFLX

Kelman Lazarov Inc. reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,162 shares of the Internet television network’s stock after selling 21 shares during the period. Kelman Lazarov Inc.’s holdings in Netflix were worth $1,556,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Arcus Capital Partners LLC bought a new position in Netflix in the 2nd quarter worth about $279,000. Joseph P. Lucia & Associates LLC grew its stake in Netflix by 92.1% in the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 782 shares of the Internet television network’s stock worth $1,047,000 after acquiring an additional 375 shares in the last quarter. Wealthstream Advisors Inc. grew its stake in Netflix by 8.8% in the 2nd quarter. Wealthstream Advisors Inc. now owns 1,066 shares of the Internet television network’s stock worth $1,428,000 after acquiring an additional 86 shares in the last quarter. International Assets Investment Management LLC grew its stake in Netflix by 5.2% in the 2nd quarter. International Assets Investment Management LLC now owns 8,511 shares of the Internet television network’s stock worth $11,397,000 after acquiring an additional 423 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Netflix in the 2nd quarter worth about $106,880,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on NFLX. Barclays restated a “sell” rating and issued a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Cowen restated a “buy” rating on shares of Netflix in a research note on Tuesday, October 7th. Rosenblatt Securities increased their price objective on shares of Netflix from $1,514.00 to $1,515.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Itau BBA Securities assumed coverage on shares of Netflix in a research note on Tuesday, October 7th. They set an “outperform” rating and a $1,514.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,339.81.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 2,026 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the sale, the chief executive officer directly owned 12,781 shares in the company, valued at $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Theodore A. Sarandos sold 2,026 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the completion of the sale, the chief executive officer owned 15,168 shares of the company’s stock, valued at approximately $17,604,284.16. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,100 shares of company stock valued at $122,710,980 over the last quarter. Insiders own 1.37% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $1,199.36 on Friday. The company has a market cap of $509.64 billion, a price-to-earnings ratio of 51.10, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a twelve month low of $736.23 and a twelve month high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $1,213.47 and a two-hundred day moving average of $1,177.58.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. Netflix’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm earned $4.88 earnings per share. As a group, analysts predict 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.