Wallace Advisory Group LLC Sells 947 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wallace Advisory Group LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 38.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,516 shares of the Internet television network’s stock after selling 947 shares during the quarter. Wallace Advisory Group LLC’s holdings in Netflix were worth $1,023,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DigitalBridge Group Inc. boosted its holdings in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after acquiring an additional 9,451 shares in the last quarter. M&G Plc purchased a new position in shares of Netflix during the first quarter valued at about $9,682,000. BSN CAPITAL PARTNERS Ltd raised its stake in Netflix by 24.4% in the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after buying an additional 49,000 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after buying an additional 30,511 shares during the period. Finally, Scarborough Advisors LLC purchased a new stake in Netflix in the fourth quarter worth about $9,513,000. 80.93% of the stock is owned by institutional investors.

Netflix Trading Down 0.6 %

NASDAQ:NFLX opened at $707.35 on Monday. Netflix, Inc. has a one year low of $344.73 and a one year high of $725.26. The business has a fifty day moving average price of $669.62 and a 200-day moving average price of $644.91. The firm has a market capitalization of $304.87 billion, a price-to-earnings ratio of 49.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

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

Insiders Place Their Bets

In other Netflix news, Director Leslie J. Kilgore sold 402 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $291,450.00. Following the completion of the transaction, the director now directly owns 35,262 shares in the company, valued at $25,564,950. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Netflix news, Director Leslie J. Kilgore sold 402 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $291,450.00. Following the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,564,950. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 4,392 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $9,490,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,494 shares of company stock worth $118,230,884. Company insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NFLX shares. Macquarie reissued an “outperform” rating and set a $685.00 price objective on shares of Netflix in a research note on Tuesday, July 16th. KeyCorp increased their target price on Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Bank of America lifted their price target on Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Guggenheim increased their price objective on shares of Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Argus upped their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

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.