Burney Co. Sells 3,397 Shares of Netflix, Inc. (NASDAQ:NFLX)

Burney Co. trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 15.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,132 shares of the Internet television network's stock after selling 3,397 shares during the quarter. Burney Co.'s holdings in Netflix were worth $16,909,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

NFLX has been the subject of a number of research reports. Barclays restated a "sell" rating and issued a $1,100.00 price target (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a research note on Tuesday, July 15th. UBS Group reaffirmed a "market underperform" rating on shares of Netflix in a research note on Saturday, July 19th. FBN Securities started coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Stock Down 0.0%

NFLX stock traded down $0.27 during trading on Friday, hitting $1,180.49. 2,621,495 shares of the stock traded hands, compared to its average volume of 4,304,313. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The firm's 50 day moving average is $1,236.66 and its two-hundred day moving average is $1,069.32. The stock has a market cap of $501.63 billion, a price-to-earnings ratio of 50.30, a price-to-earnings-growth ratio of 1.98 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the firm posted $4.88 EPS. Netflix's revenue for the quarter was up 15.9% on a year-over-year basis. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In other Netflix news, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total value of $797,840.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 1,090 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,923 shares of company stock worth $222,445,095. 1.37% of the stock is owned by corporate insiders.

Netflix Company 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.