Symphony Financial Ltd. Co. Trims Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Symphony Financial Ltd. Co. reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 25.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,646 shares of the Internet television network’s stock after selling 552 shares during the period. Symphony Financial Ltd. Co.’s holdings in Netflix were worth $1,000,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KFA Private Wealth Group LLC boosted its stake in shares of Netflix by 1.9% during the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after acquiring an additional 18 shares during the last quarter. Legacy Capital Group California Inc. lifted its position in Netflix by 0.6% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after buying an additional 18 shares during the period. Founders Financial Alliance LLC lifted its position in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after buying an additional 18 shares during the period. Addison Advisors LLC lifted its position in Netflix by 7.8% during the fourth quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock worth $134,000 after buying an additional 20 shares during the period. Finally, PFS Partners LLC lifted its position in Netflix by 40.0% during the first quarter. PFS Partners LLC now owns 70 shares of the Internet television network’s stock worth $43,000 after buying an additional 20 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Down 1.4 %

NASDAQ NFLX traded down $9.46 during mid-day trading on Friday, reaching $674.88. 3,412,391 shares of the company’s stock traded hands, compared to its average volume of 2,746,538. The company has a market cap of $290.87 billion, a price-to-earnings ratio of 46.83, a P/E/G ratio of 1.46 and a beta of 1.26. The company has a fifty day simple moving average of $628.93 and a 200-day simple moving average of $584.34. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $689.88.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.88 EPS. As a group, equities research analysts expect that Netflix, Inc. will post 18.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NFLX. Piper Sandler increased their target price on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 target price on shares of Netflix in a research report on Monday, June 17th. Guggenheim increased their target price on Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Canaccord Genuity Group reiterated a “hold” rating and set a $585.00 target price (down from $720.00) on shares of Netflix in a research report on Friday, April 19th. Finally, Morgan Stanley raised their price objective on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $633.53.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $15,443.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $10,126,825.94. Following the sale, the chairman now directly owns 28 shares in the company, valued at approximately $15,443.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,425 shares of company stock worth $41,919,791. 1.76% of the stock is currently owned by corporate insiders.

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.