Choreo LLC Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Choreo LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,165 shares of the Internet television network's stock after selling 1,244 shares during the quarter. Choreo LLC's holdings in Netflix were worth $18,805,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NFLX. Brighton Jones LLC increased its holdings in Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in 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 purchasing an additional 144 shares in the last quarter. BIP Wealth LLC increased its holdings in Netflix by 23.8% in the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after purchasing an additional 87 shares in the last quarter. Samalin Investment Counsel LLC grew its stake in shares of Netflix by 2.3% during the fourth quarter. Samalin Investment Counsel LLC now owns 498 shares of the Internet television network's stock valued at $445,000 after acquiring an additional 11 shares in the last quarter. Finally, Congress Wealth Management LLC DE grew its stake in shares of Netflix by 10.3% during the fourth quarter. Congress Wealth Management LLC DE now owns 18,924 shares of the Internet television network's stock valued at $16,868,000 after acquiring an additional 1,771 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NFLX. Sanford C. Bernstein increased their price target on shares of Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Rosenblatt Securities raised their target price on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a report on Friday. Macquarie raised their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Finally, Pivotal Research reissued a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,297.66.

Insider Activity at Netflix

In other Netflix news, Director Strive Masiyiwa sold 290 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total transaction of $387,596.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Reed Hastings sold 9,673 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the sale, the director owned 394 shares in the company, valued at approximately $523,669.34. The trade was a 96.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,563 shares of company stock worth $223,147,201 over the last ninety days. Insiders own 1.37% of the company's stock.

Netflix Trading Down 1.6%

Shares of NASDAQ:NFLX traded down $20.30 during trading on Tuesday, reaching $1,212.97. The stock had a trading volume of 1,002,712 shares, compared to its average volume of 3,760,084. The firm's fifty day moving average is $1,232.59 and its 200 day moving average is $1,063.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.34. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15. The stock has a market cap of $516.20 billion, a price-to-earnings ratio of 51.73, a P/E/G ratio of 2.15 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company posted $4.88 earnings per share. As a group, equities analysts forecast that Netflix, Inc. will post 24.58 EPS 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.

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