Netflix, Inc. (NASDAQ:NFLX) Position Lessened by Pacific Sun Financial Corp

Pacific Sun Financial Corp trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 561 shares of the Internet television network’s stock after selling 15 shares during the quarter. Pacific Sun Financial Corp’s holdings in Netflix were worth $523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NFLX. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix during the fourth quarter worth $27,000. Transce3nd LLC bought a new position in Netflix during the fourth quarter valued at about $32,000. Copia Wealth Management bought a new position in Netflix during the fourth quarter valued at about $37,000. Stuart Chaussee & Associates Inc. raised its holdings in Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock valued at $41,000 after buying an additional 45 shares in the last quarter. Finally, NewSquare Capital LLC raised its holdings in Netflix by 120.0% during the fourth quarter. NewSquare Capital LLC now owns 55 shares of the Internet television network’s stock valued at $49,000 after buying an additional 30 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NFLX. Moffett Nathanson restated a “buy” rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. KeyCorp raised their target price on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Jefferies Financial Group raised their target price on Netflix from $1,200.00 to $1,400.00 and gave the company a “buy” rating in a report on Tuesday, June 3rd. Piper Sandler set a $1,150.00 target price on Netflix and gave the company an “overweight” rating in a report on Monday, April 21st. Finally, Phillip Securities upgraded 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 issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,156.73.

Netflix Stock Down 0.2%

NFLX stock opened at $1,212.15 on Friday. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,262.81. The company has a market cap of $515.86 billion, a PE ratio of 61.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The business’s 50-day simple moving average is $1,120.37 and its 200 day simple moving average is $1,000.10. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

Insider Buying and Selling at Netflix

In other news, insider Cletus R. Willems sold 298 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total value of $339,124.00. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $35,972,180. The trade was a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the transaction, the director now directly owns 79,040 shares in the company, valued at $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,140 shares of company stock valued at $210,271,552. 1.37% of the stock is currently owned by corporate 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.