Bristlecone Advisors LLC Has $5.82 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Bristlecone Advisors LLC lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,237 shares of the Internet television network’s stock after selling 758 shares during the period. Bristlecone Advisors LLC’s holdings in Netflix were worth $5,816,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock valued at $35,433,585,000 after acquiring an additional 509,255 shares during the period. GAMMA Investing LLC increased its stake in shares of 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 buying an additional 8,827,662 shares in the last quarter. Northern Trust Corp grew its position in shares of Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after buying an additional 570,674 shares during the period. Goldman Sachs Group Inc. lifted its stake in Netflix by 57.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock valued at $3,164,134,000 after acquiring an additional 1,236,251 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Netflix by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,811,760 shares of the Internet television network’s stock valued at $2,622,051,000 after buying an additional 143,368 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,180.37 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 1 year low of $616.02 and a 1 year high of $1,341.15. The firm’s fifty day simple moving average is $1,232.06 and its 200 day simple moving average is $1,091.12. The firm has a market capitalization of $501.57 billion, a PE ratio of 50.29, a PEG ratio of 1.98 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period last year, the firm earned $4.88 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 685 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,286,026.11. The trade was a 15.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cletus R. Willems sold 238 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total transaction of $274,537.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 150,226 shares of company stock worth $183,849,784. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NFLX. Pivotal Research reaffirmed a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. KeyCorp boosted their price target on Netflix from $1,070.00 to $1,390.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Moffett Nathanson restated a “buy” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Cfra Research upgraded Netflix to a “strong-buy” rating in a research note on Monday, April 28th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating on shares of Netflix in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,297.66.

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.