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

Paces Ferry Wealth Advisors LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 8.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,341 shares of the Internet television network’s stock after selling 118 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in Netflix were worth $905,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Denver PWM LLC purchased a new stake in shares of Netflix during the second quarter valued at $25,000. Valued Wealth Advisors LLC lifted its position in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the period. Proffitt & Goodson Inc. grew its stake in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares during the period. Finally, Indiana Trust & Investment Management CO raised its stake in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 2.3 %

Shares of NFLX opened at $690.47 on Thursday. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $711.33. The firm has a market capitalization of $297.59 billion, a P/E ratio of 47.92, a P/E/G ratio of 1.40 and a beta of 1.26. The firm has a 50-day moving average price of $660.90 and a 200 day moving average price of $639.51. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results 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. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.29 EPS. Sell-side analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NFLX shares. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price target on shares of Netflix in a report on Friday, July 19th. Citigroup raised their target price on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Macquarie reaffirmed an “outperform” rating and issued a $685.00 price target on shares of Netflix in a report on Tuesday, July 16th. Piper Sandler increased their price target on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Morgan Stanley boosted their price objective on Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 4,644 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total transaction of $3,250,800.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $9,163,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 196,798 shares of company stock worth $129,552,672. 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.