Contravisory Investment Management Inc. Has $13.33 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Contravisory Investment Management Inc. cut its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,299 shares of the Internet television network's stock after selling 1,434 shares during the quarter. Netflix comprises about 2.8% of Contravisory Investment Management Inc.'s holdings, making the stock its 2nd largest position. Contravisory Investment Management Inc.'s holdings in Netflix were worth $13,334,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NFLX. Pathway Financial Advisers LLC raised its stake in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after purchasing an additional 14 shares during the period. Brown Shipley& Co Ltd purchased a new position in Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC bought a new stake in shares of Netflix during the fourth quarter valued at about $32,000. Newton One Investments LLC bought a new stake in shares of Netflix during the fourth quarter valued at about $34,000. Finally, Pineridge Advisors LLC lifted its holdings in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Trading Up 0.9%

Shares of NASDAQ NFLX traded up $10.86 during trading hours on Thursday, hitting $1,250.52. The company's stock had a trading volume of 2,814,568 shares, compared to its average volume of 3,745,431. The business has a 50-day simple moving average of $1,075.18 and a 200-day simple moving average of $982.47. The stock has a market cap of $532.19 billion, a price-to-earnings ratio of 63.06, a P/E/G ratio of 2.12 and a beta of 1.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,262.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the previous year, the firm earned $8.28 earnings per share. On average, analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was 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 SEC, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total transaction of $3,151,553.67. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at $4,472,273.97. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,300 shares of company stock valued at $169,146,939. 1.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on NFLX. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the company an "overweight" rating in a research note on Monday, April 21st. Cfra Research raised shares of Netflix to a "strong-buy" rating in a report on Monday, April 28th. Canaccord Genuity Group upped their price target on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Wolfe Research set a $1,340.00 price objective on Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Barclays boosted their target price on Netflix from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a research report on Monday, April 21st. Eleven research 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,149.91.

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.