Picton Mahoney Asset Management Decreases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Picton Mahoney Asset Management trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 57.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,155 shares of the Internet television network’s stock after selling 5,618 shares during the quarter. Picton Mahoney Asset Management’s holdings in Netflix were worth $2,523,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Obermeyer Wood Investment Counsel Lllp raised its holdings in Netflix by 2.8% during the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after purchasing an additional 17 shares in the last quarter. KFA Private Wealth Group LLC raised its holdings in Netflix by 1.9% during the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after purchasing an additional 18 shares in the last quarter. Legacy Capital Group California Inc. raised its holdings in Netflix by 0.6% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after purchasing an additional 18 shares in the last quarter. Founders Financial Alliance LLC raised its holdings in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after purchasing an additional 18 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in Netflix by 4.6% during the first quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after purchasing an additional 18 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Down 1.5 %

Shares of NASDAQ:NFLX traded down $9.70 during midday trading on Friday, hitting $633.34. 9,799,761 shares of the company’s stock traded hands, compared to its average volume of 3,961,102. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $697.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $272.97 billion, a PE ratio of 44.23, a P/E/G ratio of 1.40 and a beta of 1.27. The firm’s fifty day moving average price is $655.28 and its two-hundred day moving average price is $601.42.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.29 EPS. On average, equities research analysts anticipate that Netflix, Inc. will post 18.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on NFLX shares. UBS Group upped their target price on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday. Pivotal Research upped their target price on shares of Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. upped their target price on shares of Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Sanford C. Bernstein upped their target price on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Argus upped their target price 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 research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $666.71.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 268 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,385 shares of company stock valued at $44,469,351. Insiders own 1.76% 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.