Merriman Wealth Management LLC Has $495,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Merriman Wealth Management LLC reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 734 shares of the Internet television network’s stock after selling 20 shares during the quarter. Merriman Wealth Management LLC’s holdings in Netflix were worth $495,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Precision Wealth Strategies LLC lifted its stake in Netflix by 3.5% during the fourth quarter. Precision Wealth Strategies LLC now owns 2,444 shares of the Internet television network’s stock worth $1,190,000 after purchasing an additional 83 shares during the period. Gilbert & Cook Inc. increased its holdings in shares of Netflix by 5.9% in the fourth quarter. Gilbert & Cook Inc. now owns 2,177 shares of the Internet television network’s stock valued at $1,060,000 after purchasing an additional 121 shares in the last quarter. Aveo Capital Partners LLC increased its holdings in shares of Netflix by 6.9% in the fourth quarter. Aveo Capital Partners LLC now owns 667 shares of the Internet television network’s stock valued at $325,000 after purchasing an additional 43 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of Netflix by 20.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,971 shares of the Internet television network’s stock valued at $1,933,000 after purchasing an additional 674 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Netflix in the fourth quarter valued at approximately $370,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of Netflix stock opened at $701.03 on Friday. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $715.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $302.14 billion, a P/E ratio of 48.65, a P/E/G ratio of 1.40 and a beta of 1.26. The company’s 50 day moving average price is $663.00 and its two-hundred day moving average price is $640.55.

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. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.29 earnings per share. On average, equities analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on NFLX. Sanford C. Bernstein upped their target price on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Citigroup upped their target price on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Needham & Company LLC reiterated a “buy” rating and set a $700.00 target price on shares of Netflix in a research report on Friday, July 19th. Argus upped their target price on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, Evercore ISI upped their target price on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,043,019.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,226 shares of company stock valued at $129,858,692. Corporate insiders own 1.76% of the company’s stock.

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.