Sound Income Strategies LLC Sells 143 Shares of Netflix, Inc. (NASDAQ:NFLX)

Sound Income Strategies LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,323 shares of the Internet television network’s stock after selling 143 shares during the period. Sound Income Strategies LLC’s holdings in Netflix were worth $5,055,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Dark Forest Capital Management LP grew its position in shares of Netflix by 119.6% during the 3rd quarter. Dark Forest Capital Management LP now owns 1,212 shares of the Internet television network’s stock worth $458,000 after buying an additional 660 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Netflix by 5.2% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,020 shares of the Internet television network’s stock valued at $763,000 after purchasing an additional 100 shares in the last quarter. Covestor Ltd raised its holdings in shares of Netflix by 11.6% during the third quarter. Covestor Ltd now owns 279 shares of the Internet television network’s stock valued at $105,000 after purchasing an additional 29 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Netflix by 12.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,161 shares of the Internet television network’s stock valued at $816,000 after purchasing an additional 232 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in shares of Netflix by 2.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,439 shares of the Internet television network’s stock worth $543,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.81, for a total value of $758,889.18. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $7,772,972.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $15,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.81, for a total value of $758,889.18. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,772,972.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,425 shares of company stock valued at $41,919,791. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group upped their price target on Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Barclays increased their target price on Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Piper Sandler boosted their price target on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Evercore ISI raised their price objective on shares of Netflix from $650.00 to $700.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. Finally, Wells Fargo & Company boosted their target price on shares of Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $633.53.

Netflix Stock Performance

Shares of NFLX traded up $5.28 during trading hours on Wednesday, hitting $677.69. The company’s stock had a trading volume of 3,544,071 shares, compared to its average volume of 4,009,780. The company has a market cap of $292.08 billion, a price-to-earnings ratio of 47.02, a PEG ratio of 1.45 and a beta of 1.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50 day simple moving average of $623.78 and a two-hundred day simple moving average of $580.61. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $689.88.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the previous year, the firm posted $2.88 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts expect that Netflix, Inc. will post 18.31 earnings per share for the current fiscal year.

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.