Alpine Woods Capital Investors LLC Sells 1,181 Shares of Netflix, Inc. (NASDAQ:NFLX)

Alpine Woods Capital Investors LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 23.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,820 shares of the Internet television network's stock after selling 1,181 shares during the period. Alpine Woods Capital Investors LLC's holdings in Netflix were worth $3,562,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NFLX. GAMMA Investing LLC boosted its holdings in shares of Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares during the period. Norges Bank bought a new position in shares of Netflix in the fourth quarter worth $5,019,087,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after acquiring an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA boosted 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 acquiring an additional 743,724 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after acquiring an additional 570,674 shares during the period. 80.93% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Bradford L. Smith sold 3,919 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the transaction, the director owned 7,969 shares of the company's stock, valued at approximately $8,959,227.94. This represents a 32.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Reed Hastings sold 26,977 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the transaction, the director directly owned 394 shares of the company's stock, valued at $446,421.70. This represents a 98.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Benchmark reissued a "hold" rating on shares of Netflix in a research note on Monday, April 21st. Evercore ISI reissued an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Cfra Research raised Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Finally, The Goldman Sachs Group lifted their price objective on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Netflix currently has an average rating of "Moderate Buy" and a consensus target price of $1,214.52.

Netflix Stock Performance

NFLX traded down $5.48 during mid-day trading on Friday, reaching $1,245.11. 3,948,915 shares of the company traded hands, compared to its average volume of 3,766,443. The stock has a market capitalization of $529.88 billion, a P/E ratio of 58.84, a P/E/G ratio of 2.27 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The company's fifty day moving average price is $1,221.70 and its 200-day moving average price is $1,049.04. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the prior year, the business posted $8.28 EPS. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

About Netflix

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.