SignalPoint Asset Management LLC Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

SignalPoint Asset Management LLC lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 914 shares of the Internet television network’s stock after selling 93 shares during the quarter. SignalPoint Asset Management LLC’s holdings in Netflix were worth $403,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baldrige Asset Management LLC lifted its stake in shares of Netflix by 156.3% in the 1st quarter. Baldrige Asset Management LLC now owns 82 shares of the Internet television network’s stock valued at $28,000 after purchasing an additional 50 shares during the period. Barrett & Company Inc. purchased a new position in shares of Netflix in the 1st quarter valued at approximately $29,000. Retirement Group LLC lifted its stake in shares of Netflix by 52.6% in the 1st quarter. Retirement Group LLC now owns 87 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 30 shares during the period. Manchester Capital Management LLC lifted its stake in shares of Netflix by 8,700.0% in the 1st quarter. Manchester Capital Management LLC now owns 88 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 87 shares during the period. Finally, Silicon Valley Capital Partners lifted its stake in shares of Netflix by 80.0% in the 1st quarter. Silicon Valley Capital Partners now owns 90 shares of the Internet television network’s stock valued at $31,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 79.95% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $0.74 during mid-day trading on Tuesday, reaching $393.66. The stock had a trading volume of 950,422 shares, compared to its average volume of 6,971,603. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.62. The company has a market cap of $174.45 billion, a P/E ratio of 42.00, a price-to-earnings-growth ratio of 1.32 and a beta of 1.29. Netflix, Inc. has a 1 year low of $211.73 and a 1 year high of $485.00. The business’s 50 day moving average price is $430.91 and its 200 day moving average price is $384.60.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.44. Netflix had a return on equity of 19.76% and a net margin of 13.22%. The company had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the previous year, the firm posted $3.20 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts expect that Netflix, Inc. will post 11.92 EPS for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the subject of a number of research analyst reports. Wells Fargo & Company restated an “overweight” rating and issued a $500.00 target price on shares of Netflix in a research note on Thursday, July 20th. StockNews.com assumed coverage on Netflix in a research report on Thursday, August 17th. They set a “hold” rating for the company. Truist Financial reaffirmed a “hold” rating and set a $485.00 price objective on shares of Netflix in a research report on Friday. Guggenheim reaffirmed a “buy” rating and set a $500.00 price objective on shares of Netflix in a research report on Thursday, July 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Netflix in a research report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $431.44.

Insiders Place Their Bets

In other Netflix news, Director Richard N. Barton sold 500 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $438.52, for a total transaction of $219,260.00. Following the sale, the director now directly owns 86 shares of the company’s stock, valued at $37,712.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Theodore A. Sarandos sold 55,386 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $431.10, for a total transaction of $23,876,904.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 500 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $438.52, for a total value of $219,260.00. Following the transaction, the director now directly owns 86 shares in the company, valued at approximately $37,712.72. The disclosure for this sale can be found here. Insiders have sold 125,377 shares of company stock valued at $54,547,674 over the last ninety days. 2.45% of the stock is owned by insiders.

Netflix Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.