Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,981 shares of the Internet television network’s stock after selling 862 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Netflix were worth $4,036,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Valued Wealth Advisors LLC raised its stake in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 20 shares during the last quarter. VitalStone Financial LLC lifted its stake 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 last quarter. Beaird Harris Wealth Management LLC boosted its stake in Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares during the period. Scarborough Advisors LLC bought a new position in shares of Netflix during the fourth quarter worth about $32,000. Finally, Indiana Trust & Investment Management CO increased its position in Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NASDAQ NFLX traded up $10.85 during midday trading on Friday, reaching $674.07. The stock had a trading volume of 3,511,014 shares, compared to its average volume of 3,896,356. The stock has a 50-day moving average of $654.47 and a 200-day moving average of $621.61. Netflix, Inc. has a 12-month low of $344.73 and a 12-month 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. The company has a market capitalization of $290.52 billion, a price-to-earnings ratio of 46.78, 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. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.29 earnings per share. As a group, research analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research reports. Sanford C. Bernstein raised their price objective on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Morgan Stanley lifted their target price on shares of Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. UBS Group boosted their price target on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, July 19th. TD Cowen boosted their price target on Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of Netflix in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $681.21.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 19,943 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $633.58, for a total value of $12,635,485.94. Following the transaction, the chairman now directly owns 57 shares in the company, valued at $36,114.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Netflix news, 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 value of $12,635,485.94. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at approximately $36,114.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 132,893 shares of company stock worth $84,412,483. Insiders own 1.76% of the company’s stock.

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.