Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Delap Wealth Advisory LLC

Delap Wealth Advisory LLC cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 74.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 317 shares of the Internet television network’s stock after selling 940 shares during the quarter. Delap Wealth Advisory LLC’s holdings in Netflix were worth $214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Edge Capital Group LLC increased its stake in Netflix by 4.8% during the second quarter. Edge Capital Group LLC now owns 1,737 shares of the Internet television network’s stock worth $1,172,000 after acquiring an additional 79 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Netflix by 7.9% during the second quarter. EverSource Wealth Advisors LLC now owns 4,614 shares of the Internet television network’s stock worth $2,899,000 after acquiring an additional 337 shares during the last quarter. Fairscale Capital LLC acquired a new stake in Netflix during the second quarter worth about $927,000. Itau Unibanco Holding S.A. increased its stake in Netflix by 620.9% during the second quarter. Itau Unibanco Holding S.A. now owns 24,000 shares of the Internet television network’s stock worth $16,197,000 after acquiring an additional 20,671 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in Netflix by 7.7% during the second quarter. Fidelis Capital Partners LLC now owns 3,962 shares of the Internet television network’s stock worth $2,674,000 after acquiring an additional 283 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NFLX shares. Sanford C. Bernstein upped their price target on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $725.00 target price on shares of Netflix in a research report on Tuesday, July 30th. Macquarie reaffirmed an “outperform” rating and issued a $685.00 target price on shares of Netflix in a research report on Tuesday, July 16th. JPMorgan Chase & Co. upped their target price on Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Finally, Citigroup upped their target price on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Netflix Stock Down 0.5 %

NFLX opened at $701.03 on Friday. Netflix, Inc. has a 12 month low of $344.73 and a 12 month 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 stock has a market cap 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 stock’s 50 day moving average price is $663.00 and its 200 day moving average price is $640.85.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period last year, the firm earned $3.29 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. As a group, research analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity at Netflix

In other news, Director Leslie J. Kilgore sold 428 shares of Netflix stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $715.00, for a total transaction of $306,020.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Leslie J. Kilgore sold 428 shares of Netflix stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $715.00, for a total value of $306,020.00. The disclosure for this sale can be found here. Insiders have sold a total of 197,226 shares of company stock worth $129,858,692 in the last three months. 1.76% of the stock is owned by company insiders.

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.