Arrow Financial Corp Decreases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Arrow Financial Corp lessened its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 33.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,511 shares of the Internet television network's stock after selling 1,751 shares during the quarter. Arrow Financial Corp's holdings in Netflix were worth $3,274,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fullcircle Wealth LLC increased its position in shares of Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after purchasing an additional 9 shares during the last quarter. Bedell Frazier Investment Counselling LLC increased its position in shares of Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after purchasing an additional 10 shares during the last quarter. Mission Creek Capital Partners Inc. increased its position in shares of Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after purchasing an additional 10 shares during the last quarter. Continuum Wealth Advisors LLC increased its position in shares of Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after purchasing an additional 10 shares during the last quarter. Finally, Financial Enhancement Group LLC increased its position in shares of Netflix by 2.5% during the 1st quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after purchasing an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Analysts Set New Price Targets

NFLX has been the subject of several research analyst reports. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Macquarie lifted their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. FBN Securities initiated coverage on Netflix in a research note on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 target price for the company. Pivotal Research reiterated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Finally, Wedbush reiterated an "outperform" rating and set a $1,500.00 target price (up from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Netflix currently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Insider Activity at Netflix

In related news, CAO Jeffrey William Karbowski sold 620 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total transaction of $797,840.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Strive Masiyiwa sold 290 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. Insiders have sold 186,563 shares of company stock worth $223,147,201 over the last quarter. 1.37% of the stock is owned by company insiders.

Netflix Price Performance

NFLX traded down $43.19 on Tuesday, reaching $1,190.08. The stock had a trading volume of 5,033,206 shares, compared to its average volume of 3,775,427. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The firm has a 50-day moving average of $1,232.59 and a 200-day moving average of $1,063.17. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $506.46 billion, a price-to-earnings ratio of 50.71, a price-to-earnings-growth ratio of 2.15 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the previous year, the company posted $4.88 EPS. The business's revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts anticipate 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.