Byrne Asset Management LLC Sells 23 Shares of Netflix, Inc. (NASDAQ:NFLX)

Byrne Asset Management LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 392 shares of the Internet television network’s stock after selling 23 shares during the period. Byrne Asset Management LLC’s holdings in Netflix were worth $366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Farmers & Merchants Investments Inc. increased its position in shares of Netflix by 0.5% during the first quarter. Farmers & Merchants Investments Inc. now owns 5,633 shares of the Internet television network’s stock worth $5,253,000 after acquiring an additional 29 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Netflix by 28.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 91,054 shares of the Internet television network’s stock worth $84,909,000 after purchasing an additional 20,152 shares during the last quarter. Tritonpoint Wealth LLC boosted its holdings in Netflix by 4.4% during the first quarter. Tritonpoint Wealth LLC now owns 1,905 shares of the Internet television network’s stock worth $1,776,000 after purchasing an additional 81 shares during the last quarter. Jackson Square Capital LLC boosted its holdings in Netflix by 18.3% during the first quarter. Jackson Square Capital LLC now owns 7,368 shares of the Internet television network’s stock worth $6,871,000 after purchasing an additional 1,138 shares during the last quarter. Finally, BNC Wealth Management LLC boosted its holdings in Netflix by 6.7% during the first quarter. BNC Wealth Management LLC now owns 3,449 shares of the Internet television network’s stock worth $3,216,000 after purchasing an additional 217 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Netflix

In other news, CAO Jeffrey William Karbowski sold 480 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 1,358 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The disclosure for this sale can be found here. Insiders sold 185,140 shares of company stock valued at $210,271,552 in the last quarter. Company insiders own 1.37% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $1,212.15 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,262.81. The firm’s fifty day moving average is $1,120.37 and its 200 day moving average is $999.25. The firm has a market cap of $515.86 billion, a P/E ratio of 61.13, a P/E/G ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter last year, the firm earned $8.28 EPS. Research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NFLX. Oppenheimer boosted their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an “outperform” rating in a report on Thursday. Loop Capital restated a “hold” rating on shares of Netflix in a report on Monday, March 24th. Barclays boosted their price target on shares of Netflix from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Monday, April 21st. Macquarie boosted their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. Finally, Jefferies Financial Group boosted their price target on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Eleven equities research 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,156.73.

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.