Nvest Financial LLC Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Nvest Financial LLC decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 3,429 shares of the Internet television network’s stock after selling 177 shares during the period. Netflix accounts for 1.7% of Nvest Financial LLC’s portfolio, making the stock its 15th largest position. Nvest Financial LLC’s holdings in Netflix were worth $3,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after acquiring an additional 8,827,662 shares during the last quarter. Norges Bank bought a new stake in shares of Netflix during the fourth quarter worth $5,019,087,000. Proficio Capital Partners LLC boosted its stake in shares of Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after purchasing an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after purchasing an additional 856,307 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after purchasing an additional 743,724 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Macquarie raised their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Jefferies Financial Group lifted their target price on Netflix from $1,200.00 to $1,400.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. Robert W. Baird increased their price target on Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Bank of America lifted their price objective on Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a report on Friday, May 30th. Finally, Phillip Securities upgraded shares of Netflix from a “moderate sell” rating to a “hold” rating in a report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,172.73.

Netflix Price Performance

Shares of NFLX opened at $1,275.25 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The company’s fifty day moving average price is $1,169.57 and its 200-day moving average price is $1,018.04. The firm has a market capitalization of $542.71 billion, a PE ratio of 60.27, a price-to-earnings-growth ratio of 2.47 and a beta of 1.59. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,298.00.

Netflix (NASDAQ:NFLX) last issued 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. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the prior year, the company earned $8.28 EPS. On average, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In related news, Director Jay C. Hoag sold 32,515 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the sale, the director now directly owns 79,040 shares of the company’s stock, valued at $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the transaction, the director now owns 394 shares of the company’s stock, valued at approximately $446,421.70. This represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,660 shares of company stock worth $209,802,025 over the last 90 days. 1.37% of the stock is currently owned by company insiders.

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.