Castle Rock Wealth Management LLC Reduces Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Castle Rock Wealth Management LLC decreased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 21.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,687 shares of the Internet television network's stock after selling 738 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Netflix were worth $2,472,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in NFLX. West Michigan Advisors LLC raised its stake in shares of Netflix by 1.3% in the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock worth $692,000 after purchasing an additional 10 shares during the last quarter. Warwick Investment Management Inc. raised its stake in shares of Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after purchasing an additional 10 shares during the last quarter. MRP Capital Investments LLC raised its holdings in shares of Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after purchasing an additional 10 shares during the last quarter. Bedell Frazier Investment Counselling LLC lifted its position in shares of Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after purchasing an additional 10 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. grew its position in Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after purchasing an additional 10 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Stock Up 1.0%

Shares of Netflix stock traded up $11.75 during trading on Monday, hitting $1,218.98. 2,287,791 shares of the stock were exchanged, compared to its average volume of 3,751,692. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,219.76. The stock has a market cap of $518.76 billion, a price-to-earnings ratio of 61.47, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. 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 firm's 50-day moving average price is $1,059.27 and its 200 day moving average price is $976.26.

Netflix (NASDAQ:NFLX - Get Free Report) last announced 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 net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same period last year, the firm posted $8.28 earnings per share. As a group, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,402,068.52. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,262 shares of company stock valued at $106,599,765. Insiders own 1.37% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on NFLX. Guggenheim reissued a "buy" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Evercore ISI reissued an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Rosenblatt Securities upped their price objective on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating 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 report on Friday, May 16th. Finally, Pivotal Research increased their price target on shares of Netflix from $1,250.00 to $1,350.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Eleven 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 company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,122.33.

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.