Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,197 shares of the Internet television network’s stock after selling 416 shares during the quarter. Netflix comprises about 1.3% of Burns J W & Co. Inc. NY’s investment portfolio, making the stock its 21st biggest holding. Burns J W & Co. Inc. NY’s holdings in Netflix were worth $9,230,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Indiana Trust & Investment Management CO raised its holdings in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares in the last quarter. VitalStone Financial LLC increased its position in Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the last quarter. Scarborough Advisors LLC acquired a new position in Netflix in the 4th quarter worth about $32,000. Beaird Harris Wealth Management LLC raised its stake in shares of Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares in the last quarter. Finally, Spartan Planning & Wealth Management acquired a new stake in shares of Netflix during the 3rd quarter valued at about $26,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Down 1.4 %

Shares of NFLX traded down $9.46 during trading hours on Friday, hitting $674.88. The company had a trading volume of 3,412,391 shares, compared to its average volume of 2,746,538. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $689.88. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $628.93 and its 200 day moving average price is $583.49. The firm has a market cap of $290.87 billion, a P/E ratio of 46.83, a P/E/G ratio of 1.48 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the previous year, the company earned $2.88 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts predict that Netflix, Inc. will post 18.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on NFLX shares. TD Cowen boosted their target price on shares of Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Wedbush reissued an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research note on Monday, May 20th. Canaccord Genuity Group downgraded Netflix from a “buy” rating to a “hold” rating and lowered their price target for the company from $720.00 to $585.00 in a research report on Friday, April 19th. Loop Capital raised their price target on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley lifted their price target on shares of Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. One 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, Netflix has an average rating of “Moderate Buy” and a consensus price target of $633.53.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Anne M. Sweeney sold 3,029 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $580.00, for a total value of $1,756,820.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the sale, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. Insiders have sold 69,425 shares of company stock worth $41,919,791 over the last 90 days. 1.76% of the stock is owned by company insiders.

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.