Ithaka Group LLC Sells 120 Shares of Netflix, Inc. (NASDAQ:NFLX)

Ithaka Group LLC reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.5% during the second quarter, HoldingsChannel.com reports. The fund owned 23,403 shares of the Internet television network’s stock after selling 120 shares during the quarter. Netflix makes up approximately 2.9% of Ithaka Group LLC’s investment portfolio, making the stock its 14th largest position. Ithaka Group LLC’s holdings in Netflix were worth $15,794,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Denver PWM LLC purchased a new stake in Netflix in the second quarter worth $25,000. Valued Wealth Advisors LLC grew its stake in Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares in the last quarter. VitalStone Financial LLC increased its holdings in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 56 shares during the period. Beaird Harris Wealth Management LLC raised its position in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in shares of Netflix in the 4th quarter valued at about $32,000. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Loop Capital increased their price objective on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Bank of America upped their target price on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. Morgan Stanley lifted their price objective on Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, The Goldman Sachs Group lifted their price objective on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $685.29.

Netflix Price Performance

NASDAQ:NFLX opened at $697.06 on Monday. The firm has a market cap of $299.16 billion, a price-to-earnings ratio of 48.37, a PEG ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a one year low of $344.73 and a one year high of $711.33. The firm’s fifty day moving average is $660.00 and its two-hundred day moving average is $637.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same quarter last year, the firm posted $3.29 EPS. The business’s revenue was up 16.8% on a year-over-year basis. Research analysts expect that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,043,019.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Leslie J. Kilgore sold 1,372 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total transaction of $966,999.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,798 shares of company stock worth $129,552,672. 1.76% of the stock is owned by corporate insiders.

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.