Chung Wu Investment Group LLC Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Chung Wu Investment Group LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 58.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 645 shares of the Internet television network's stock after selling 920 shares during the period. Chung Wu Investment Group LLC's holdings in Netflix were worth $601,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC increased its holdings in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares during the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix during the fourth quarter worth $27,000. Transce3nd LLC acquired a new stake in shares of Netflix in the 4th quarter worth $32,000. Copia Wealth Management acquired a new stake in shares of Netflix in the 4th quarter worth $37,000. Finally, Stuart Chaussee & Associates Inc. raised its holdings in shares of Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wedbush reissued an "outperform" rating and issued a $1,200.00 price objective on shares of Netflix in a report on Monday, May 5th. Macquarie raised their price target 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. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $1,220.00 price objective (up from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Pivotal Research raised their target price on Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Finally, KeyCorp raised their price objective on Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and an average price target of $1,172.73.

Netflix Stock Performance

Shares of NFLX stock opened at $1,275.25 on Thursday. The company has a market cap of $542.71 billion, a P/E ratio of 60.27, a PEG ratio of 2.47 and a beta of 1.59. The firm has a fifty day moving average price of $1,169.57 and a 200 day moving average price of $1,018.04. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,298.00.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The business had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the prior year, the firm posted $8.28 EPS. Sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction on Monday, April 21st. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Cletus R. Willems sold 298 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the sale, the insider now owns 31,610 shares of the company's stock, valued at $35,972,180. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,660 shares of company stock worth $209,802,025. 1.37% of the stock is owned by insiders.

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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