Netflix, Inc. (NASDAQ:NFLX) Shares Sold by PFG Investments LLC

PFG Investments LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,873 shares of the Internet television network’s stock after selling 58 shares during the quarter. PFG Investments LLC’s holdings in Netflix were worth $5,477,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC increased its stake in shares of Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after acquiring an additional 257 shares during the period. Union Bancaire Privee UBP SA bought a new position in Netflix during the 4th quarter valued at $12,212,000. Revolve Wealth Partners LLC boosted its stake in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after purchasing an additional 144 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Netflix by 29.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 439 shares of the Internet television network’s stock valued at $392,000 after purchasing an additional 101 shares during the period. Finally, Prakash Investment Advisors LLC bought a new stake in shares of Netflix in the 4th quarter worth $8,296,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Canaccord Genuity Group raised their target price on Netflix from $1,200.00 to $1,380.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Benchmark reissued a “hold” rating on shares of Netflix in a report on Monday, April 21st. Pivotal Research lifted their price objective on shares of Netflix from $1,350.00 to $1,600.00 and gave the stock a “buy” rating in a research note on Friday. Moffett Nathanson reiterated a “buy” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, UBS Group raised their target price on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,172.73.

Insider Activity at Netflix

In other news, Director Jay C. Hoag sold 32,515 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the transaction, the director now owns 79,040 shares in the company, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the business’s 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,140 shares of company stock valued at $210,271,552. Corporate insiders own 1.37% of the company’s stock.

Netflix Trading Up 0.8%

Netflix stock opened at $1,231.49 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,262.81. The company’s fifty day simple moving average is $1,150.80 and its 200-day simple moving average is $1,010.84. The stock has a market cap of $524.09 billion, a P/E ratio of 58.20, a P/E/G ratio of 2.36 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period in the previous year, the company earned $8.28 earnings per share. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.