ERn Financial LLC trimmed its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,161 shares of the Internet television network’s stock after selling 46 shares during the quarter. ERn Financial LLC’s holdings in Netflix were worth $1,083,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. West Michigan Advisors LLC raised its stake 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 acquiring an additional 10 shares in the last quarter. Warwick Investment Management Inc. increased its position in shares of 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 buying an additional 10 shares during the period. MRP Capital Investments LLC grew its holdings in Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock worth $938,000 after acquiring an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC lifted its stake in shares of Netflix by 2.2% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock valued at $412,000 after purchasing an additional 10 shares during the period. Finally, Mission Creek Capital Partners Inc. boosted its position in shares of Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock valued at $3,410,000 after purchasing an additional 10 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.
Netflix Stock Up 0.1%
Shares of NASDAQ NFLX opened at $1,222.29 on Thursday. The firm’s fifty day moving average is $1,138.51 and its 200 day moving average is $1,006.33. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,262.81. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a market cap of $520.17 billion, a price-to-earnings ratio of 57.76, a PEG ratio of 2.36 and a beta of 1.59.
Analysts Set New Price Targets
Several brokerages have issued reports on NFLX. Bank of America boosted their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Cfra Research raised Netflix to a “strong-buy” rating in a research report on Monday, April 28th. Guggenheim reaffirmed a “buy” rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Evercore ISI reissued an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Finally, Citigroup restated a “neutral” rating and set a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $1,156.73.
Get Our Latest Stock Analysis on NFLX
Insider Buying and Selling at Netflix
In other news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the sale, the director now owns 63,040 shares of the company’s stock, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 1,090 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. 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 90 days. Insiders own 1.37% of the company’s stock.
About Netflix
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.
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