Netflix, Inc. (NASDAQ:NFLX) Position Cut by Baskin Financial Services Inc.

Baskin Financial Services Inc. lowered its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,630 shares of the Internet television network's stock after selling 1,074 shares during the quarter. Netflix accounts for about 4.1% of Baskin Financial Services Inc.'s investment portfolio, making the stock its 7th biggest holding. Baskin Financial Services Inc.'s holdings in Netflix were worth $50,944,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC lifted its stake in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new position in shares of Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new position in Netflix during the fourth quarter valued at approximately $32,000. Copia Wealth Management bought a new position in Netflix during the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its holdings in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after purchasing an additional 45 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

NFLX traded up $10.38 on Friday, hitting $1,295.24. 2,006,224 shares of the company's stock traded hands, compared to its average volume of 3,766,089. The company's 50 day simple moving average is $1,207.87 and its 200-day simple moving average is $1,036.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The firm has a market cap of $551.21 billion, a price-to-earnings ratio of 61.21, a P/E/G ratio of 2.35 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The firm had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter last year, the business posted $8.28 earnings per share. As a group, research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research reports. Jefferies Financial Group boosted their target price on shares of Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Rosenblatt Securities lifted their price objective on Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Bank of America upped their price objective on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Wedbush reissued an "outperform" rating and issued a $1,200.00 target price on shares of Netflix in a research report on Monday, May 5th. Finally, Citigroup restated a "neutral" rating and set a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Eleven investment 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 stock. Based on data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and an average target price of $1,182.58.

Insider Buying and Selling

In other news, CAO Jeffrey William Karbowski sold 620 shares of the firm'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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the sale, the director directly owned 63,040 shares in the company, valued at $78,948,144. This trade represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock worth $223,307,201 in the last 90 days. 1.37% of the stock is owned by company insiders.

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.