Meritas Wealth Management LLC Has $374,000 Holdings in Netflix, Inc. (NASDAQ:NFLX)

Meritas Wealth Management LLC reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 27.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401 shares of the Internet television network’s stock after selling 152 shares during the quarter. Meritas Wealth Management LLC’s holdings in Netflix were worth $374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the last quarter. FMR LLC lifted its stake in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after purchasing an additional 375,234 shares during the period. Geode Capital Management LLC boosted its position in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Finally, Norges Bank bought a new position in Netflix during the fourth quarter worth about $5,019,087,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ann Mather sold 1,358 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total value of $1,561,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the sale, the director now owns 63,040 shares of the company’s stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,140 shares of company stock worth $210,271,552 over the last three months. 1.37% of the stock is owned by insiders.

Netflix Trading Down 0.2%

Shares of NFLX stock opened at $1,212.15 on Friday. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,262.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $515.86 billion, a PE ratio of 61.13, a PEG ratio of 2.12 and a beta of 1.59. The stock has a fifty day simple moving average of $1,120.37 and a two-hundred day simple moving average of $999.25.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same period in the prior year, the firm earned $8.28 EPS. On average, analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NFLX. Morgan Stanley raised their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Wells Fargo & Company upped their price objective on shares of Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Guggenheim restated a “buy” rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Barclays upped their price objective on shares of Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Monday, April 21st. Finally, Canaccord Genuity Group upped their price objective on shares of Netflix from $1,200.00 to $1,380.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,156.73.

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.