Abner Herrman & Brock LLC Has $31.80 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Abner Herrman & Brock LLC cut its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,101 shares of the Internet television network's stock after selling 539 shares during the quarter. Netflix accounts for 4.1% of Abner Herrman & Brock LLC's investment portfolio, making the stock its 3rd biggest holding. Abner Herrman & Brock LLC's holdings in Netflix were worth $31,800,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew 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 last quarter. Norges Bank acquired a new stake in Netflix during the 4th quarter valued at $5,019,087,000. Proficio Capital Partners LLC grew its holdings in Netflix by 123,836.7% during the 4th 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 buying an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Netflix by 59.3% during the 4th 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 buying an additional 856,307 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Netflix by 318.9% during the 4th 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 period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

NASDAQ:NFLX traded up $11.75 on Monday, reaching $1,218.98. The stock had a trading volume of 2,287,791 shares, compared to its average volume of 3,751,692. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $518.76 billion, a P/E ratio of 61.47, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,219.76. The stock has a fifty day moving average price of $1,059.27 and a 200-day moving average price of $976.26.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations 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. Research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Ratings Changes

NFLX has been the topic of a number of recent analyst reports. Cfra Research raised Netflix to a "strong-buy" rating in a research note on Monday, April 28th. UBS Group decreased their price target on shares of Netflix from $1,150.00 to $1,140.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Phillip Securities upgraded shares of Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Oppenheimer reissued an "outperform" rating and issued a $1,200.00 price objective (up from $1,150.00) on shares of Netflix in a report on Friday, April 18th. Finally, Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the company an "outperform" rating in a research note on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,122.33.

Insider Activity at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 640 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,194.77, for a total transaction of $764,652.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,402,068.52. This trade represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,262 shares of company stock worth $106,599,765 over the last 90 days. Insiders own 1.37% of the company's stock.

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.