Netflix, Inc. (NASDAQ:NFLX) Stock Position Reduced by Harrington Investments INC

Harrington Investments INC lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,122 shares of the Internet television network’s stock after selling 164 shares during the quarter. Netflix accounts for about 3.8% of Harrington Investments INC’s holdings, making the stock its 3rd biggest position. Harrington Investments INC’s holdings in Netflix were worth $6,641,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. West Michigan Advisors LLC boosted its stake in Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after acquiring an additional 10 shares during the last quarter. Warwick Investment Management Inc. increased its stake in Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock valued at $266,000 after purchasing an additional 10 shares in the last quarter. MRP Capital Investments LLC raised its holdings in Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock worth $938,000 after purchasing an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC boosted its position in shares of Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after purchasing an additional 10 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. boosted its position in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock worth $3,410,000 after purchasing an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NFLX. Robert W. Baird raised their price objective on Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $1,220.00 price target (up from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Piper Sandler set a $1,150.00 price objective on Netflix and gave the company an “overweight” rating in a research report on Monday, April 21st. Loop Capital reissued a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $1,200.00 price target on shares of Netflix in a report on Monday, May 5th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $1,149.91.

Insider Buying and Selling at Netflix

In related news, insider Cletus R. Willems sold 298 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total value of $339,124.00. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $35,972,180. This represents a 0.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction of $469,526.40. The disclosure for this sale can be found here. Insiders have sold a total of 153,390 shares of company stock worth $170,509,439 over the last ninety days. Insiders own 1.37% of the company’s stock.

Netflix Stock Down 0.7%

Shares of NFLX stock opened at $1,241.47 on Friday. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,262.81. The stock has a market cap of $528.33 billion, a price-to-earnings ratio of 62.61, a PEG ratio of 2.12 and a beta of 1.59. The firm’s 50-day moving average is $1,087.80 and its 200-day moving average is $987.81. 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 (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $10.51 billion. During the same quarter in the prior year, the company earned $8.28 earnings per share. Sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current 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.