Bleakley Financial Group LLC Sells 485 Shares of Netflix, Inc. (NASDAQ:NFLX)

Bleakley Financial Group LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,673 shares of the Internet television network's stock after selling 485 shares during the quarter. Bleakley Financial Group LLC's holdings in Netflix were worth $13,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NFLX. Janus Henderson Group PLC raised its stake in Netflix by 8.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after acquiring an additional 110,432 shares in the last quarter. PharVision Advisers LLC acquired a new stake in shares of Netflix in the fourth quarter valued at $873,000. New England Research & Management Inc. increased its stake in shares of Netflix by 148.5% in the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after buying an additional 1,268 shares in the last quarter. Xcel Wealth Management LLC increased its stake in shares of Netflix by 15.2% in the first quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network's stock valued at $459,000 after buying an additional 65 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Netflix by 6.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after buying an additional 3,137 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NFLX. Loop Capital restated a "hold" rating on shares of Netflix in a report on Monday, March 24th. Wolfe Research set a $1,340.00 target price on Netflix and gave the stock an "outperform" rating in a report on Friday, May 16th. 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 report on Wednesday, July 2nd. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. Finally, Guggenheim reiterated a "buy" rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,214.52.

Netflix Stock Performance

Shares of NFLX opened at $1,245.11 on Monday. 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 company has a market capitalization of $529.88 billion, a price-to-earnings ratio of 58.84, a PEG ratio of 2.25 and a beta of 1.59. The stock has a 50 day moving average of $1,221.70 and a 200 day moving average of $1,050.73. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15.

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

Insider Activity at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 620 shares of Netflix 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 the SEC website. Also, Director Reed Hastings sold 16,840 shares of Netflix stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,295.78, for a total value of $21,820,935.20. Following the sale, the director directly owned 10,067 shares of the company's stock, valued at approximately $13,044,617.26. This trade represents a 62.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 in the last ninety days. 1.37% of the stock is currently owned by corporate 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.

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