Three Seasons Wealth LLC Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Three Seasons Wealth LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 30.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,958 shares of the Internet television network’s stock after selling 863 shares during the quarter. Netflix accounts for approximately 0.9% of Three Seasons Wealth LLC’s investment portfolio, making the stock its 20th largest position. Three Seasons Wealth LLC’s holdings in Netflix were worth $1,826,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC boosted its stake in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd bought a new stake in shares of Netflix in the fourth quarter valued at about $27,000. Transce3nd LLC bought a new stake in shares of Netflix in the fourth quarter valued at about $32,000. Copia Wealth Management bought a new stake in shares of Netflix in the fourth quarter valued at about $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Netflix in the first quarter valued at about $42,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total value of $3,151,553.67. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,472,273.97. This trade represents a 41.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the sale, the director directly owned 7,969 shares in the company, valued at approximately $8,959,227.94. This trade represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,483 shares of company stock worth $179,492,976 in the last quarter. Insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NFLX shares. UBS Group restated a “market underperform” rating on shares of Netflix in a report on Saturday, July 19th. Canaccord Genuity Group reiterated a “buy” rating on shares of Netflix in a report on Thursday, July 10th. Jefferies Financial Group set a $1,500.00 target price on shares of Netflix and gave the stock a “buy” rating in a report on Friday, July 18th. Guggenheim reiterated a “buy” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, Benchmark reiterated a “hold” rating on shares of Netflix in a report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,297.66.

Netflix Price Performance

Shares of NFLX opened at $1,170.99 on Tuesday. The firm has a market cap of $497.59 billion, a price-to-earnings ratio of 49.89, a PEG ratio of 1.95 and a beta of 1.59. The stock has a 50 day moving average of $1,234.03 and a 200-day moving average of $1,087.86. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.88 EPS. As a group, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

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.