Chicago Capital LLC Sells 22,724 Shares of Netflix, Inc. (NASDAQ:NFLX)

Chicago Capital LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 25.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 65,061 shares of the Internet television network’s stock after selling 22,724 shares during the quarter. Netflix makes up 1.7% of Chicago Capital LLC’s holdings, making the stock its 22nd biggest holding. Chicago Capital LLC’s holdings in Netflix were worth $60,672,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NFLX. Vanguard Group Inc. raised its position in Netflix by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after purchasing an additional 171,712 shares during the period. FMR LLC boosted its holdings in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the period. Geode Capital Management LLC increased its position in shares of Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after purchasing an additional 175,596 shares during the last quarter. GAMMA Investing LLC raised its holdings in Netflix by 109,524.3% during 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 buying an additional 8,827,662 shares during the period. Finally, Norges Bank bought a new stake in Netflix in the fourth quarter worth $5,019,087,000. Institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 1,090 shares of Netflix stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 185,140 shares of company stock valued at $210,271,552. Corporate insiders own 1.37% of the company’s stock.

Netflix Price Performance

NASDAQ NFLX opened at $1,225.35 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm’s 50 day moving average price is $1,127.47 and its 200-day moving average price is $1,003.32. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,262.81. The company has a market cap of $521.47 billion, a PE ratio of 61.79, a P/E/G ratio of 2.12 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 for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the prior year, the business earned $8.28 earnings per share. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NFLX. KeyCorp boosted their price objective on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Wolfe Research set a $1,340.00 price target on shares of Netflix and gave the company an “outperform” rating in a report on Friday, May 16th. Benchmark reissued a “hold” rating on shares of Netflix in a research report on Monday, April 21st. FBN Securities began coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price objective for the company. Finally, Cfra Research raised Netflix to a “strong-buy” rating in a research note on Monday, April 28th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,156.73.

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.