Netflix, Inc. (NASDAQ:NFLX) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,634 shares of the Internet television network's stock after selling 2,600 shares during the period. Netflix comprises approximately 4.5% of AMI Asset Management Corp's investment portfolio, making the stock its 4th largest holding. AMI Asset Management Corp's holdings in Netflix were worth $76,126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NFLX. Vanguard Group Inc. increased its stake in shares of Netflix by 0.5% in the 4th 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 in the last quarter. FMR LLC boosted its position in Netflix by 1.8% during the fourth 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 in the last quarter. Geode Capital Management LLC grew its holdings in Netflix by 1.9% in the fourth 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 period. GAMMA Investing LLC increased its position 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 valued at $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $5,019,087,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Trading Up 2.5%

NFLX stock traded up $31.42 during midday trading on Thursday, hitting $1,306.67. 2,601,963 shares of the company's stock were exchanged, compared to its average volume of 3,738,503. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,307.49. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $556.08 billion, a PE ratio of 61.75, a P/E/G ratio of 2.47 and a beta of 1.59. The business has a 50-day simple moving average of $1,169.57 and a two-hundred day simple moving average of $1,018.04.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations 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 predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. BMO Capital Markets reiterated an "outperform" rating and set a $1,200.00 target price (up previously from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. JPMorgan Chase & Co. restated a "neutral" rating and set a $1,220.00 price objective (up from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Citigroup reissued a "neutral" rating and set a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, Canaccord Genuity Group upped their price target on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Eleven 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 MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,172.73.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. This represents a 98.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Insiders sold a total of 184,660 shares of company stock valued at $209,802,025 over the last 90 days. 1.37% of the stock is owned by company insiders.

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.