Mission Wealth Management LP Sells 474 Shares of Netflix, Inc. (NASDAQ:NFLX)

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Mission Wealth Management LP trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 4.1% during the first quarter, HoldingsChannel reports. The firm owned 11,083 shares of the Internet television network’s stock after selling 474 shares during the period. Mission Wealth Management LP’s holdings in Netflix were worth $3,952,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Clarfeld Financial Advisors LLC purchased a new position in shares of Netflix during the 4th quarter worth about $27,000. Pearl River Capital LLC purchased a new position in shares of Netflix during the 4th quarter worth about $30,000. Citizens Financial Group Inc RI lifted its holdings in shares of Netflix by 750.0% during the 4th quarter. Citizens Financial Group Inc RI now owns 136 shares of the Internet television network’s stock worth $36,000 after acquiring an additional 120 shares during the period. TCG Advisors LP purchased a new position in shares of Netflix during the 1st quarter worth about $36,000. Finally, CNB Bank purchased a new position in shares of Netflix during the 4th quarter worth about $43,000. Institutional investors own 77.05% of the company’s stock.

In other Netflix news, CEO Reed Hastings sold 52,458 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $367.25, for a total value of $19,265,200.50. Following the completion of the sale, the chief executive officer now owns 52,458 shares of the company’s stock, valued at $19,265,200.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 166,838 shares of company stock valued at $60,415,372 in the last ninety days. 4.29% of the stock is owned by corporate insiders.

Several brokerages have recently weighed in on NFLX. Pivotal Research reiterated a “buy” rating and set a $500.00 price objective on shares of Netflix in a report on Tuesday, April 16th. BMO Capital Markets increased their price objective on shares of Netflix from $440.00 to $470.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Loop Capital upgraded shares of Netflix from a “hold” rating to a “buy” rating and increased their price objective for the stock from $395.00 to $425.00 in a report on Monday, June 3rd. BidaskClub lowered shares of Netflix from a “hold” rating to a “sell” rating in a report on Friday. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $450.00 price objective on shares of Netflix in a report on Wednesday, April 17th. Five analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Netflix presently has an average rating of “Buy” and an average target price of $386.03.

NASDAQ:NFLX traded down $5.85 during trading hours on Friday, hitting $337.58. The stock had a trading volume of 199,611 shares, compared to its average volume of 5,097,457. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.81. Netflix, Inc. has a 1-year low of $231.23 and a 1-year high of $423.21. The company has a market capitalization of $151.09 billion, a price-to-earnings ratio of 125.85, a price-to-earnings-growth ratio of 3.44 and a beta of 1.30.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.19. Netflix had a net margin of 7.61% and a return on equity of 24.75%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter last year, the company earned $0.64 earnings per share. Netflix’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, equities analysts anticipate that Netflix, Inc. will post 3.34 earnings per share for the current year.

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About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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