Miracle Mile Advisors LLC Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Miracle Mile Advisors LLC decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 21.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,949 shares of the Internet television network’s stock after selling 1,913 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Netflix were worth $4,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital World Investors boosted its stake in Netflix by 0.7% during the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after buying an additional 78,320 shares during the period. Jennison Associates LLC boosted its stake in Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after buying an additional 1,573,978 shares during the period. Norges Bank bought a new stake in Netflix during the fourth quarter valued at $2,558,598,000. Fisher Asset Management LLC boosted its stake in Netflix by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after buying an additional 78,298 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Down 0.2 %

Shares of NASDAQ NFLX opened at $673.61 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $290.33 billion, a P/E ratio of 46.75, a PEG ratio of 1.46 and a beta of 1.27. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $689.88. The firm has a 50-day simple moving average of $628.93 and a two-hundred day simple moving average of $585.07.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.88 earnings per share. Research analysts anticipate that Netflix, Inc. will post 18.31 earnings per share for the current year.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at $15,443.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at $15,443.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,859 shares of company stock valued at $29,365,893. 1.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NFLX shares. Pivotal Research lifted their price target on Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Citigroup lifted their price objective on Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a report on Monday, March 25th. Canaccord Genuity Group reiterated a “hold” rating and issued a $585.00 price objective (down previously from $720.00) on shares of Netflix in a report on Friday, April 19th. Canaccord Genuity Group downgraded Netflix from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $720.00 to $585.00 in a report on Friday, April 19th. Finally, Macquarie lifted their price objective on Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $633.53.

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.