Focus Financial Network Inc. Sells 128 Shares of Netflix, Inc. (NASDAQ:NFLX)

Focus Financial Network Inc. reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,644 shares of the Internet television network’s stock after selling 128 shares during the period. Focus Financial Network Inc.’s holdings in Netflix were worth $1,712,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after purchasing an additional 149,341 shares during the period. Capital World Investors lifted its holdings in Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after buying an additional 78,320 shares during the period. Jennison Associates LLC lifted its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 shares during the period. Norges Bank purchased a new stake in Netflix in the fourth quarter worth about $2,558,598,000. Finally, Fisher Asset Management LLC lifted its holdings in Netflix by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after buying an additional 78,298 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 433 shares of the company’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 filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Spencer Adam Neumann sold 433 shares of the company’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 filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 19,943 shares of the company’s stock in a transaction on 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 transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $36,114.06. The disclosure for this sale can be found here. Insiders sold a total of 132,893 shares of company stock valued at $84,412,483 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on NFLX. The Goldman Sachs Group raised their price objective on shares of Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. UBS Group raised their price objective on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Redburn Atlantic raised their price objective on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Piper Sandler lifted their target price on shares of Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Argus lifted their target price on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $681.21.

Netflix Stock Performance

Shares of NFLX stock traded down $1.47 during mid-day trading on Wednesday, reaching $697.07. 1,007,609 shares of the company’s stock traded hands, compared to its average volume of 3,879,074. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $711.33. The firm has a 50 day moving average price of $656.35 and a two-hundred day moving average price of $623.81. 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 has a market capitalization of $300.44 billion, a PE ratio of 48.40, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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 net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the previous year, the firm posted $3.29 EPS. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, research analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

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.