Apollon Wealth Management LLC Lowers Stake in Netflix, Inc. (NASDAQ:NFLX)

Apollon Wealth Management LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 3.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,261 shares of the Internet television network’s stock after selling 536 shares during the quarter. Apollon Wealth Management LLC’s holdings in Netflix were worth $10,299,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NFLX. Norges Bank acquired a new stake in shares of Netflix in the fourth quarter valued at about $2,558,598,000. Wellington Management Group LLP raised its holdings in shares of Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the period. GQG Partners LLC bought a new position in Netflix in the first quarter worth about $1,450,476,000. Jennison Associates LLC lifted its stake in Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after buying an additional 1,573,978 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in shares of Netflix in the 1st quarter worth about $436,514,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of Netflix stock traded up $14.46 during trading on Monday, reaching $688.53. The company’s stock had a trading volume of 3,010,354 shares, compared to its average volume of 3,891,223. Netflix, Inc. has a one year low of $344.73 and a one year 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 firm has a market cap of $296.76 billion, a price-to-earnings ratio of 47.41, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The business’s fifty day moving average price is $654.47 and its 200-day moving average price is $622.01.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. The company 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%. Netflix’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.29 earnings per share. As a group, equities research analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, Director Jay C. Hoag sold 37,675 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $629.73, for a total value of $23,725,077.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David A. Hyman sold 20,656 shares of Netflix 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 directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The disclosure for this sale can be found here. Insiders sold a total of 132,893 shares of company stock valued at $84,412,483 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several analyst reports. The Goldman Sachs Group raised their price target on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Wedbush reaffirmed an “outperform” rating and set a $725.00 price target on shares of Netflix in a research note on Monday, May 20th. UBS Group boosted their price objective on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Oppenheimer restated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a report on Tuesday, July 30th. Finally, Argus boosted their price target on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $681.21.

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.