Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC reduced its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,425 shares of the Internet television network's stock after selling 387 shares during the period. Castle Rock Wealth Management LLC's holdings in Netflix were worth $3,053,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Netflix during the fourth quarter worth approximately $5,019,087,000. Proficio Capital Partners LLC lifted its stake in Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after purchasing an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after purchasing an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock worth $870,752,000 after buying an additional 743,724 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after acquiring an additional 570,674 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Trading Up 1.4%

NASDAQ:NFLX traded up $16.10 during mid-day trading on Friday, hitting $1,200.96. 1,774,274 shares of the stock traded hands, compared to its average volume of 3,741,973. The firm's 50 day moving average is $1,055.18 and its two-hundred day moving average is $971.66. The stock has a market capitalization of $511.09 billion, a price-to-earnings ratio of 60.57, a PEG ratio of 2.12 and a beta of 1.58. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,215.91.

Netflix (NASDAQ:NFLX - Get Free Report) last issued 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. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter last year, the business posted $8.28 EPS. On average, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In other news, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the sale, the director now directly owns 7,969 shares in the company, valued at approximately $8,959,227.94. This trade represents a 32.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 640 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,194.77, for a total transaction of $764,652.80. The disclosure for this sale can be found here. Insiders sold 133,348 shares of company stock valued at $139,087,908 over the last 90 days. Corporate insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of research reports. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Pivotal Research increased their target price on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. Cfra Research raised Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Guggenheim reiterated a "buy" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Finally, Wolfe Research set a $1,340.00 target price on Netflix and gave the company an "outperform" rating in a report 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,122.33.

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.