Robbins Farley Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Robbins Farley trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.5% in the 1st quarter, Holdings Channel reports. The firm owned 5,012 shares of the Internet television network’s stock after selling 527 shares during the quarter. Netflix accounts for 2.5% of Robbins Farley’s holdings, making the stock its 17th biggest holding. Robbins Farley’s holdings in Netflix were worth $4,674,000 at the end of the most recent reporting period.

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

Netflix Price Performance

Shares of 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 stock has a market capitalization of $515.86 billion, a PE ratio of 61.13, a PEG ratio of 2.12 and a beta of 1.59. The stock’s fifty day moving average is $1,120.37 and its 200-day moving average is $999.25.

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

Insider Activity at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the 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 SEC, which is available through this link. Also, Director Jay C. Hoag sold 31,750 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director now directly owns 63,040 shares in the company, valued at approximately $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,140 shares of company stock valued at $210,271,552. 1.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NFLX shares. KeyCorp raised their price objective on shares of Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Moffett Nathanson reaffirmed a “buy” rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Rosenblatt Securities lifted their target price 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 reissued a “buy” rating and issued a $1,126.00 price objective on shares of Netflix in a report on Thursday, April 17th. Finally, Wedbush reissued an “outperform” rating and issued a $1,200.00 price objective on shares of Netflix in a report on Monday, May 5th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.