Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Salvus Wealth Management LLC

Salvus Wealth Management LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 39.4% during the 1st quarter, Holdings Channel reports. The firm owned 506 shares of the Internet television network’s stock after selling 329 shares during the period. Salvus Wealth Management LLC’s holdings in Netflix were worth $472,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after acquiring an additional 8,827,662 shares during the last quarter. Norges Bank acquired a new stake in shares of Netflix during the 4th quarter worth about $5,019,087,000. Proficio Capital Partners LLC boosted its stake in shares of Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after purchasing an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after buying an additional 856,307 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after buying an additional 743,724 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $1,220.00 target price (up from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Pivotal Research upped their price target on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. Macquarie lifted their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Finally, Evercore ISI reissued an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $1,149.91.

Insider Activity at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the business’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 2,027 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $1,141.51, for a total transaction of $2,313,840.77. Following the completion of the transaction, the chief executive officer now owns 12,781 shares in the company, valued at approximately $14,589,639.31. The trade was a 13.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,300 shares of company stock valued at $169,146,939 over the last three months. 1.37% of the stock is owned by insiders.

Netflix Stock Up 1.8%

NFLX stock opened at $1,239.66 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $1,075.18 and a 200-day simple moving average of $982.47. The company has a market capitalization of $527.56 billion, a P/E ratio of 62.51, a PEG ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,244.10.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period last year, the business earned $8.28 EPS. On average, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix Company 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.