IAM Advisory LLC Sells 36 Shares of Netflix, Inc. (NASDAQ:NFLX)

IAM Advisory LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,724 shares of the Internet television network’s stock after selling 36 shares during the period. IAM Advisory LLC’s holdings in Netflix were worth $1,164,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Thrive Wealth Management LLC increased its position in shares of Netflix by 14.0% during the second quarter. Thrive Wealth Management LLC now owns 651 shares of the Internet television network’s stock valued at $439,000 after acquiring an additional 80 shares during the last quarter. Carr Financial Group Corp grew its position in shares of Netflix by 13.0% during the 2nd quarter. Carr Financial Group Corp now owns 1,200 shares of the Internet television network’s stock valued at $810,000 after acquiring an additional 138 shares during the period. Cypress Wealth Services LLC grew its holdings in Netflix by 7.1% during the second quarter. Cypress Wealth Services LLC now owns 647 shares of the Internet television network’s stock valued at $437,000 after purchasing an additional 43 shares during the period. Atlas Private Wealth Advisors increased its position in Netflix by 94.0% in the second quarter. Atlas Private Wealth Advisors now owns 838 shares of the Internet television network’s stock worth $566,000 after buying an additional 406 shares during the last quarter. Finally, Sax Wealth Advisors LLC lifted its position in shares of Netflix by 27.3% during the 2nd quarter. Sax Wealth Advisors LLC now owns 1,682 shares of the Internet television network’s stock valued at $1,135,000 after buying an additional 361 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Transactions 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 shares were sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 19,943 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at $36,114.06. The disclosure for this sale can be found here. Insiders have sold a total of 95,218 shares of company stock worth $60,687,405 in the last ninety days. Insiders own 1.76% of the company’s stock.

Netflix Stock Up 0.6 %

Shares of NFLX traded up $3.59 on Friday, hitting $633.94. 1,980,836 shares of the stock traded hands, compared to its average volume of 3,921,475. The company has a market capitalization of $273.23 billion, a PE ratio of 43.99, a P/E/G ratio of 1.28 and a beta of 1.27. The business has a 50 day simple moving average of $652.98 and a 200 day simple moving average of $618.88. Netflix, Inc. has a one year low of $344.73 and a one year high of $697.49. 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 issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.29 EPS. As a group, equities analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on NFLX. Wedbush restated an “outperform” rating and set a $725.00 price target on shares of Netflix in a research note on Monday, May 20th. Pivotal Research increased their price target on shares of Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. raised their price target on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Redburn Atlantic boosted their price objective on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Argus raised their target price on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $681.21.

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.