Greenwood Capital Associates LLC Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Greenwood Capital Associates LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.6% in 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 5,221 shares of the Internet television network’s stock after selling 308 shares during the period. Greenwood Capital Associates LLC’s holdings in Netflix were worth $4,869,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NFLX. Janus Henderson Group PLC boosted its position in shares of Netflix by 8.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network’s stock valued at $1,227,468,000 after purchasing an additional 110,432 shares in the last quarter. PharVision Advisers LLC bought a new position in Netflix during the 4th quarter valued at approximately $873,000. First National Trust Co boosted its holdings in Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after acquiring an additional 12 shares in the last quarter. Haven Private LLC purchased a new stake in shares of Netflix in the fourth quarter worth $733,000. Finally, Sigma Planning Corp grew its stake in shares of Netflix by 7.4% in the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after acquiring an additional 386 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. This trade represents a 98.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,140 shares of company stock worth $210,271,552. 1.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NFLX shares. Rosenblatt Securities upped their price target on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,126.00 target price on shares of Netflix in a report on Thursday, April 17th. KeyCorp increased their price target on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Guggenheim reissued a “buy” rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Netflix in a research report on Thursday, May 15th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,149.91.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,219.88 on Thursday. 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, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81. The stock’s 50 day simple moving average is $1,106.59 and its two-hundred day simple moving average is $994.50. The company has a market cap of $519.15 billion, a price-to-earnings ratio of 61.52, a PEG ratio of 2.12 and a beta of 1.59.

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 analysts’ expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the previous year, the business posted $8.28 earnings per share. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.