Netflix, Inc. (NASDAQ:NFLX) Holdings Trimmed by One Wealth Management Investment & Advisory Services LLC

One Wealth Management Investment & Advisory Services LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 18.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,146 shares of the Internet television network’s stock after selling 693 shares during the quarter. Netflix comprises about 0.8% of One Wealth Management Investment & Advisory Services LLC’s investment portfolio, making the stock its 22nd biggest holding. One Wealth Management Investment & Advisory Services LLC’s holdings in Netflix were worth $2,123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NFLX. Cullen Frost Bankers Inc. boosted its holdings in shares of Netflix by 5.8% in the second quarter. Cullen Frost Bankers Inc. now owns 25,527 shares of the Internet television network’s stock worth $17,228,000 after buying an additional 1,388 shares during the period. Intelligence Driven Advisers LLC lifted its position in shares of Netflix by 87.1% in the 2nd quarter. Intelligence Driven Advisers LLC now owns 1,046 shares of the Internet television network’s stock valued at $706,000 after acquiring an additional 487 shares in the last quarter. Hanlon Investment Management Inc. acquired a new position in Netflix in the 2nd quarter worth approximately $209,000. Valtinson Bruner Financial Planning LLC purchased a new position in Netflix during the 2nd quarter worth approximately $270,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in Netflix during the 2nd quarter valued at $203,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

NFLX traded down $17.85 during trading on Friday, hitting $665.77. The company’s stock had a trading volume of 2,991,265 shares, compared to its average volume of 3,796,436. The firm’s 50 day moving average price is $659.89 and its two-hundred day moving average price is $633.82. 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 stock has a market capitalization of $286.95 billion, a price-to-earnings ratio of 46.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $711.33.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating 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 firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter last year, the company posted $3.29 EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. Sell-side analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Piper Sandler raised their target price on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Loop Capital upped their target price on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. raised their price target on shares of Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Jefferies Financial Group boosted their price objective on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Bank of America lifted their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $685.29.

Insider Activity

In other news, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Gregory K. Peters sold 4,783 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,831 shares of company stock valued at $102,721,884. Company 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.