Chicago Capital LLC Sells 22,724 Shares of Netflix, Inc. (NASDAQ:NFLX)

Chicago Capital LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 25.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,061 shares of the Internet television network's stock after selling 22,724 shares during the quarter. Netflix makes up 1.7% of Chicago Capital LLC's investment portfolio, making the stock its 22nd largest position. Chicago Capital LLC's holdings in Netflix were worth $60,672,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Capital & Planning LLC purchased a new position in shares of Netflix during the 4th quarter valued at $809,000. Brighton Jones LLC grew its position in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after buying an additional 257 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Netflix in the 4th quarter worth about $12,212,000. Revolve Wealth Partners LLC raised 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 in the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in shares of Netflix by 29.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 439 shares of the Internet television network's stock worth $392,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NFLX. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Canaccord Genuity Group upped their target price on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Loop Capital reissued a "hold" rating on shares of Netflix in a research note on Monday, March 24th. UBS Group increased their target price on Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, Robert W. Baird raised their price target on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and a consensus target price of $1,156.73.

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the 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 transaction, the director now owns 79,040 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Insiders have sold 185,140 shares of company stock valued at $210,271,552 over the last ninety days. Insiders own 1.37% of the company's stock.

Netflix Stock Up 0.1%

Shares of NASDAQ:NFLX traded up $1.62 during trading on Wednesday, reaching $1,222.29. 2,277,207 shares of the stock traded hands, compared to its average volume of 3,745,432. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,262.81. The stock has a market cap of $520.17 billion, a P/E ratio of 57.76, a price-to-earnings-growth ratio of 2.36 and a beta of 1.59. The stock has a 50-day moving average of $1,132.97 and a two-hundred day moving average of $1,004.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period last year, the business posted $8.28 EPS. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.