NINE MASTS CAPITAL Ltd Reduces Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

NINE MASTS CAPITAL Ltd lowered its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 31.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 440 shares of the Internet television network’s stock after selling 198 shares during the quarter. NINE MASTS CAPITAL Ltd’s holdings in Netflix were worth $297,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Denver PWM LLC purchased a new stake in Netflix in the second quarter worth about $25,000. Valued Wealth Advisors LLC raised its stake in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the period. VitalStone Financial LLC raised its stake 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 lifted 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 in the last quarter. Finally, Scarborough Advisors LLC bought a new position in shares of Netflix in the fourth quarter worth approximately $32,000. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction 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 approximately $19,128,159.30. The disclosure for this sale can be found here. Insiders sold 157,831 shares of company stock worth $102,721,884 in the last 90 days. 1.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on NFLX shares. JPMorgan Chase & Co. raised their price objective on shares of Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. Benchmark boosted their price objective on Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research report on Tuesday, July 16th. Jefferies Financial Group increased their target price on Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Argus boosted their price target on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Rosenblatt Securities upped their price target on Netflix from $554.00 to $635.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. One equities 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 company’s stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Trading Up 1.2 %

Shares of NASDAQ NFLX opened at $681.47 on Thursday. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $711.33. 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 company has a market cap of $293.71 billion, a price-to-earnings ratio of 47.29, a PEG ratio of 1.36 and a beta of 1.26. The business’s 50 day moving average price is $659.79 and its 200-day moving average price is $636.23.

Netflix (NASDAQ:NFLX) last released 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 for 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%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.29 earnings per share. On average, sell-side analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current 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.