Columbia Asset Management Sells 744 Shares of Netflix, Inc. (NASDAQ:NFLX)

Columbia Asset Management trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 17.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,567 shares of the Internet television network's stock after selling 744 shares during the quarter. Columbia Asset Management's holdings in Netflix were worth $3,326,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after acquiring an additional 171,712 shares during the last quarter. FMR LLC increased its stake in shares of Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the period. GAMMA Investing LLC lifted its stake in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Finally, Norges Bank bought a new position in Netflix during the fourth quarter valued at $5,019,087,000. 80.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Jeffrey William Karbowski sold 480 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the transaction, the chief financial officer now 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 152,300 shares of company stock worth $169,146,939. 1.37% of the stock is currently owned by insiders.

Netflix Price Performance

Shares of NASDAQ NFLX traded up $10.86 during mid-day trading on Thursday, reaching $1,250.52. 2,814,568 shares of the company were exchanged, compared to its average volume of 3,749,685. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,262.59. The company's 50 day moving average price is $1,075.18 and its 200 day moving average price is $982.47. The stock has a market capitalization of $532.19 billion, a PE ratio of 63.06, 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 (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter last year, the business posted $8.28 earnings per share. Sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NFLX. Robert W. Baird boosted their target price on Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Piper Sandler set a $1,150.00 price objective on Netflix and gave the stock an "overweight" rating in a report on Monday, April 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $1,126.00 price objective on shares of Netflix in a report on Thursday, April 17th. Macquarie increased their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Finally, Pivotal Research boosted 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 issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,149.91.

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.