Pine Haven Investment Counsel Inc Sells 25 Shares of Netflix, Inc. (NASDAQ:NFLX)

Pine Haven Investment Counsel Inc trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 2.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 852 shares of the Internet television network’s stock after selling 25 shares during the quarter. Pine Haven Investment Counsel Inc’s holdings in Netflix were worth $795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after acquiring an additional 171,712 shares during the period. FMR LLC lifted its stake in shares of Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the last quarter. Geode Capital Management LLC boosted its position in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after purchasing an additional 175,596 shares in the last quarter. GAMMA Investing LLC grew its stake in Netflix by 109,524.3% in 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 purchasing an additional 8,827,662 shares during the last quarter. Finally, Norges Bank purchased a new position in Netflix in the fourth quarter valued at about $5,019,087,000. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on NFLX shares. Oppenheimer reissued an “outperform” rating and set a $1,200.00 price target (up from $1,150.00) on shares of Netflix in a research report on Friday, April 18th. Pivotal Research boosted their price objective on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Phillip Securities raised shares of Netflix from a “moderate sell” rating to a “hold” rating in a research report on Monday, April 21st. KeyCorp raised their target price on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, FBN Securities initiated coverage on Netflix in a research report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,149.91.

Netflix Trading Down 0.7%

Shares of Netflix stock opened at $1,241.47 on Friday. The stock has a market cap of $528.33 billion, a PE ratio of 62.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The firm has a fifty day moving average price of $1,087.80 and a 200 day moving average price of $987.81. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the firm earned $8.28 EPS. Equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, Director Ann Mather sold 1,090 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total value of $1,362,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares in the company, valued at $362,933.10. The trade was a 98.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,390 shares of company stock valued at $170,509,439 over the last ninety days. Company insiders own 1.37% of the company’s stock.

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.