CapWealth Advisors LLC Sells 371 Shares of Netflix, Inc. (NASDAQ:NFLX)

CapWealth Advisors LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,687 shares of the Internet television network’s stock after selling 371 shares during the period. Netflix makes up 2.5% of CapWealth Advisors LLC’s portfolio, making the stock its 13th biggest position. CapWealth Advisors LLC’s holdings in Netflix were worth $20,035,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Valued Wealth Advisors LLC grew its holdings in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the last quarter. Proffitt & Goodson Inc. grew its stake in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares during the last quarter. AlphaMark Advisors LLC raised its stake 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 acquiring an additional 45 shares during the last quarter. Indiana Trust & Investment Management CO boosted its holdings in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in shares of Netflix in the 2nd quarter worth approximately $38,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $57,878.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at $8,835,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,831 shares of company stock worth $102,721,884. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of several research analyst reports. Pivotal Research lifted their price objective on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Rosenblatt Securities lifted their price target on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Argus increased their price objective on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 target price on shares of Netflix in a research note on Friday, July 19th. Finally, Jefferies Financial Group increased their price target on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $685.29.

Netflix Stock Performance

Shares of NFLX stock opened at $683.62 on Friday. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $711.33. The company’s fifty day simple moving average is $660.07 and its 200-day simple moving average is $633.26. The firm has a market cap of $294.64 billion, a PE ratio of 47.44, a P/E/G ratio of 1.44 and a beta of 1.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

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

About Netflix

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.