Burns J W & Co. Inc. NY Sells 274 Shares of Netflix, Inc. (NASDAQ:NFLX)

Burns J W & Co. Inc. NY reduced its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,790 shares of the Internet television network's stock after selling 274 shares during the period. Netflix makes up about 1.8% of Burns J W & Co. Inc. NY's investment portfolio, making the stock its 16th largest position. Burns J W & Co. Inc. NY's holdings in Netflix were worth $13,792,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Netflix by 0.5% during the fourth 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 during the period. FMR LLC increased its position in shares of Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after purchasing an additional 375,234 shares during the period. Geode Capital Management LLC increased its position in shares of Netflix by 1.9% during 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% during 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 purchasing an additional 8,827,662 shares during the period. Finally, Norges Bank bought a new stake in shares of Netflix during the fourth quarter valued at approximately $5,019,087,000. 80.93% of the stock is owned by institutional investors.

Insider Activity at Netflix

In related news, Director Jay C. Hoag sold 32,515 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the sale, the director now owns 79,040 shares in the company, valued at approximately $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 640 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,194.77, for a total value of $764,652.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,348 shares of company stock worth $139,087,908. 1.37% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. FBN Securities assumed coverage on Netflix in a research report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective on the stock. Rosenblatt Securities boosted their price objective on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Finally, Canaccord Genuity Group boosted their price target on Netflix from $1,200.00 to $1,380.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,122.33.

Netflix Trading Up 1.5%

Shares of NFLX stock traded up $17.26 on Friday, reaching $1,202.12. 4,686,095 shares of the stock were exchanged, compared to its average volume of 3,757,419. The stock has a market cap of $511.59 billion, a PE ratio of 60.62, a P/E/G ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,215.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a 50 day moving average price of $1,059.27 and a 200 day moving average price of $975.30.

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 for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the company posted $8.28 earnings per share. Equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.