Blossom Wealth Management Trims Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Blossom Wealth Management cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,146 shares of the Internet television network’s stock after selling 102 shares during the period. Netflix makes up 2.2% of Blossom Wealth Management’s investment portfolio, making the stock its 11th biggest holding. Blossom Wealth Management’s holdings in Netflix were worth $1,069,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. West Michigan Advisors LLC raised its holdings in Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after purchasing an additional 10 shares in the last quarter. Warwick Investment Management Inc. raised its holdings in Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after purchasing an additional 10 shares in the last quarter. MRP Capital Investments LLC raised its holdings in Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock worth $938,000 after purchasing an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC raised its holdings in Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after purchasing an additional 10 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. raised its holdings in Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock worth $3,410,000 after purchasing an additional 10 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the topic of several research reports. Evercore ISI reaffirmed an “outperform” rating on shares of Netflix in a report on Thursday, May 15th. Morgan Stanley upped their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Cfra Research raised Netflix to a “strong-buy” rating in a report on Monday, April 28th. Robert W. Baird upped their price target on Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Finally, KeyCorp upped their price target on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,172.73.

Netflix Stock Up 0.8%

NFLX stock opened at $1,231.49 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81. The company has a fifty day simple moving average of $1,150.80 and a 200 day simple moving average of $1,012.19. The firm has a market cap of $524.09 billion, a PE ratio of 58.20, a PEG ratio of 2.38 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the business earned $8.28 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, insider Cletus R. Willems sold 298 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $35,972,180. The trade was a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the transaction, the director now directly owns 63,040 shares of the company’s stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,140 shares of company stock valued at $210,271,552 in the last quarter. Insiders own 1.37% of the company’s stock.

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.