GM Advisory Group LLC Sells 56 Shares of Netflix, Inc. (NASDAQ:NFLX)

GM Advisory Group LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,047 shares of the Internet television network’s stock after selling 56 shares during the quarter. GM Advisory Group LLC’s holdings in Netflix were worth $2,731,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Denver PWM LLC purchased a new stake in Netflix in the 2nd quarter valued at about $25,000. Valued Wealth Advisors LLC boosted its holdings in shares of Netflix by 80.0% in the first 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 period. VitalStone Financial LLC increased its holdings 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 purchasing an additional 56 shares during the period. Beaird Harris Wealth Management LLC raised its position in Netflix by 1,550.0% during the 4th 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 stake in Netflix during the 4th quarter valued at $32,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Up 2.0 %

NASDAQ NFLX opened at $704.32 on Friday. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $715.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $303.56 billion, a PE ratio of 48.88, a P/E/G ratio of 1.40 and a beta of 1.26. The company has a fifty day moving average of $661.93 and a 200 day moving average of $639.96.

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 the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.29 EPS. Research analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Bank of America raised their price target on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Jefferies Financial Group boosted their price target on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley upped their price target on shares of Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Macquarie reissued an “outperform” rating and issued a $685.00 price objective on shares of Netflix in a research note on Tuesday, July 16th. Finally, Loop Capital upped their target price on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated 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 accessible through this link. Also, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now owns 95,040 shares in the company, valued at approximately $65,299,132.80. The disclosure for this sale can be found here. Insiders have sold 196,798 shares of company stock valued at $129,552,672 in the last 90 days. 1.76% of the stock is currently owned by company insiders.

Netflix 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.