Private Wealth Advisors Inc. reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.0% during the 1st quarter, Holdings Channel reports. The firm owned 10,274 shares of the Internet television network’s stock after selling 313 shares during the period. Netflix accounts for approximately 1.2% of Private Wealth Advisors Inc.’s investment portfolio, making the stock its 25th biggest holding. Private Wealth Advisors Inc.’s holdings in Netflix were worth $3,034,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the business. Monetta Financial Services Inc. acquired a new stake in shares of Netflix in the 1st quarter worth $886,000. Bank Pictet & Cie Asia Ltd. acquired a new stake in shares of Netflix in the 1st quarter worth $269,000. Private Advisor Group LLC lifted its stake in shares of Netflix by 29.2% in the 1st quarter. Private Advisor Group LLC now owns 21,559 shares of the Internet television network’s stock worth $6,368,000 after acquiring an additional 4,870 shares during the period. Silvant Capital Management LLC acquired a new stake in shares of Netflix in the 1st quarter worth $10,679,000. Finally, Noven Financial Group Inc. acquired a new stake in shares of Netflix in the 1st quarter worth $234,000. 77.20% of the stock is currently owned by institutional investors.
In related news, CFO David B. Wells sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $327.25, for a total value of $327,250.00. Following the completion of the sale, the chief financial officer now directly owns 1,000 shares in the company, valued at $327,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $330.50, for a total transaction of $231,350.00. Following the completion of the sale, the director now owns 7,393 shares of the company’s stock, valued at $2,443,386.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,341 shares of company stock valued at $59,192,641. 4.29% of the stock is owned by insiders.
Several analysts have recently commented on the stock. Zacks Investment Research cut shares of Netflix from a “buy” rating to a “hold” rating in a research note on Thursday, April 19th. Vetr cut shares of Netflix from a “hold” rating to a “sell” rating and set a $303.70 target price for the company. in a research note on Wednesday, April 18th. Bank of America raised their target price on shares of Netflix from $300.00 to $347.00 and gave the stock a “buy” rating in a research note on Tuesday, April 17th. BMO Capital Markets raised their price objective on shares of Netflix from $310.00 to $324.00 and gave the company a “market perform” rating in a research note on Tuesday, April 17th. Finally, Morgan Stanley raised their price objective on shares of Netflix from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Tuesday, April 17th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $296.12.
Netflix opened at $331.82 on Tuesday, Marketbeat.com reports. Netflix, Inc. has a 1 year low of $144.25 and a 1 year high of $338.82. The company has a market capitalization of $140.92 billion, a P/E ratio of 265.46, a P/E/G ratio of 4.20 and a beta of 0.97. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.63.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, April 16th. The Internet television network reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Netflix had a net margin of 5.26% and a return on equity of 19.11%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. Netflix’s revenue was up 40.3% compared to the same quarter last year. research analysts predict that Netflix, Inc. will post 2.9 earnings per share for the current year.
Netflix Company Profile
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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