Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Private Ocean LLC

Private Ocean LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 42.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62 shares of the Internet television network’s stock after selling 45 shares during the period. Private Ocean LLC’s holdings in Netflix were worth $38,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NFLX. Spartan Planning & Wealth Management purchased a new position in shares of Netflix in the 3rd quarter valued at $26,000. VitalStone Financial LLC grew its holdings in shares of Netflix by 933.3% during the fourth 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. Beaird Harris Wealth Management LLC increased its position in shares of Netflix by 1,550.0% during the fourth 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. Scarborough Advisors LLC purchased a new stake in shares of Netflix in the 4th quarter valued at about $32,000. Finally, Indiana Trust & Investment Management CO boosted its position in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $585.00 price objective (down from $720.00) on shares of Netflix in a research report on Friday, April 19th. Oppenheimer reissued an “outperform” rating and issued a $725.00 target price on shares of Netflix in a report on Friday, April 19th. TD Cowen increased their price target on Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $633.53.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider David A. Hyman sold 268 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,835,750. The disclosure for this sale can be found here. Insiders sold a total of 69,425 shares of company stock worth $41,919,791 in the last 90 days. 1.76% of the stock is owned by company insiders.

Netflix Trading Down 1.4 %

Netflix stock traded down $9.46 during midday trading on Friday, reaching $674.88. The stock had a trading volume of 3,412,391 shares, compared to its average volume of 2,746,538. The stock’s 50-day simple moving average is $628.93 and its 200 day simple moving average is $584.34. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $689.88. 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 stock has a market capitalization of $290.87 billion, a PE ratio of 46.83, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share 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 period in the previous year, the company posted $2.88 earnings per share. Netflix’s revenue was up 14.8% compared to the same quarter last year. Analysts expect that Netflix, Inc. will post 18.31 EPS for the current year.

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.