Cambridge Investment Research Advisors Inc. Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Cambridge Investment Research Advisors Inc. lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,313 shares of the Internet television network's stock after selling 3,046 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Netflix were worth $75,827,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after buying an additional 257 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Netflix in the 4th quarter valued at about $12,212,000. Revolve Wealth Partners LLC increased its holdings in shares of Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after acquiring an additional 144 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Netflix by 6.5% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 1,669 shares of the Internet television network's stock valued at $1,488,000 after acquiring an additional 102 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. increased its holdings in shares of Netflix by 139.4% in the 4th quarter. Peregrine Asset Advisers Inc. now owns 2,042 shares of the Internet television network's stock valued at $1,820,000 after acquiring an additional 1,189 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on NFLX. Benchmark reiterated a "hold" rating on shares of Netflix in a research note on Monday, April 21st. Wolfe Research set a $1,340.00 price target on shares of Netflix and gave the stock an "outperform" rating in a research note on Friday, May 16th. Pivotal Research raised their price objective on Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a report on Friday. Jefferies Financial Group raised their price target on Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Finally, Oppenheimer raised their price target on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and a consensus price target of $1,172.73.

Netflix Stock Up 0.8%

Shares of NASDAQ NFLX opened at $1,231.49 on Friday. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81. The company has a market capitalization of $524.09 billion, a PE ratio of 58.20, a price-to-earnings-growth ratio of 2.38 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The firm's 50-day moving average is $1,150.80 and its two-hundred day moving average is $1,011.53.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the prior year, the company earned $8.28 EPS. Equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Director Ann Mather sold 1,090 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the transaction, the director now directly owns 63,040 shares in the company, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,140 shares of company stock worth $210,271,552. Corporate insiders own 1.37% of the company's stock.

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.

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