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

SkyOak Wealth LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 45.5% during the second quarter, Holdings Channel reports. The fund owned 479 shares of the Internet television network’s stock after selling 400 shares during the period. SkyOak Wealth LLC’s holdings in Netflix were worth $323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NFLX. Wellington Management Group LLP raised its stake in Netflix by 540.9% in the fourth 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 buying an additional 3,273,592 shares in the last quarter. GQG Partners LLC acquired a new stake in Netflix during the 1st quarter worth $1,450,476,000. Jennison Associates LLC grew its position in Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Netflix in the first quarter valued at about $436,514,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in shares of Netflix during the first quarter worth about $372,293,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $706.91 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a 50-day simple moving average of $660.64 and a 200 day simple moving average of $639.15. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $711.33. The company has a market cap of $304.68 billion, a PE ratio of 49.06, a P/E/G ratio of 1.40 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.29 EPS. On average, sell-side analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NFLX. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Sunday. Morgan Stanley upped their price target on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. TD Cowen lifted their price objective on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Evercore ISI raised their target price on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 27th. Finally, Benchmark increased their price target on shares of Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $685.29.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 1,372 shares of Netflix stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total transaction of $966,999.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Netflix news, Director Leslie J. Kilgore sold 1,372 shares of Netflix stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total transaction of $966,999.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 196,798 shares of company stock worth $129,552,672. Insiders own 1.76% of the company’s stock.

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.