Virtu Financial LLC Sells 17,879 Shares of Netflix, Inc. (NASDAQ:NFLX)

Virtu Financial LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 85.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,040 shares of the Internet television network’s stock after selling 17,879 shares during the period. Virtu Financial LLC’s holdings in Netflix were worth $2,051,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Denver PWM LLC bought a new stake in shares of Netflix during the 2nd quarter worth about $25,000. Valued Wealth Advisors LLC lifted its holdings in 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. VitalStone Financial LLC boosted its position in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the period. Beaird Harris Wealth Management LLC grew its holdings in Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new position in shares of Netflix in the fourth quarter valued at approximately $32,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several recent analyst reports. China Renaissance assumed coverage on shares of Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective for the company. Bank of America raised their price target on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Evercore ISI boosted their price objective on Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th. Guggenheim raised their target price on Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Benchmark lifted their price target on Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Insider Activity at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders sold 196,798 shares of company stock valued at $129,552,672 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Up 1.5 %

NFLX opened at $706.91 on Wednesday. The firm has a market cap of $304.68 billion, a price-to-earnings ratio of 49.06, a PEG ratio of 1.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50-day simple moving average is $660.64 and its 200-day simple moving average is $639.15. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $711.33.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm 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%. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.29 earnings per share. Equities research analysts anticipate 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.