Cumberland Partners Ltd Sells 917 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Cumberland Partners Ltd reduced its Netflix holdings by 23.8%, selling 917 shares, and now holds 2,940 shares valued at approximately $2.74 million.
• Insider selling includes a significant transaction where Director Reed Hastings sold 9,673 shares worth over $12.85 million, decreasing his position by 96.09%.
• Netflix stock shows a current price of $1,158.60, reflecting a 0.1% decline, with a market cap of approximately $492.32 billion.

Cumberland Partners Ltd reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 23.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,940 shares of the Internet television network's stock after selling 917 shares during the period. Cumberland Partners Ltd's holdings in Netflix were worth $2,742,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Resurgent Financial Advisors LLC boosted its holdings in Netflix by 234.4% during the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after purchasing an additional 708 shares during the last quarter. Janus Henderson Group PLC increased its stake in Netflix by 8.7% in the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after buying an additional 110,432 shares during the last quarter. PharVision Advisers LLC bought a new stake in Netflix during the 4th quarter worth about $873,000. New England Research & Management Inc. boosted its stake in shares of Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock worth $1,979,000 after buying an additional 1,268 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Netflix by 6.1% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after acquiring an additional 3,137 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Reed Hastings sold 9,673 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at approximately $523,669.34. This represents a 96.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the sale, the director directly owned 63,040 shares in the company, valued at approximately $78,948,144. This trade represents a 33.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,830 shares of company stock valued at $153,102,930. 1.37% of the stock is currently owned by insiders.

Netflix Stock Down 0.1%

Shares of NASDAQ NFLX opened at $1,158.60 on Friday. The company has a market cap of $492.32 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 1.95 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 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 $1,341.15. The stock has a 50-day moving average price of $1,234.32 and a two-hundred day moving average price of $1,082.35.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Rosenblatt Securities upped their target price on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Oppenheimer boosted their price target on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Wolfe Research set a $1,340.00 price objective on Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. Benchmark restated a "hold" rating on shares of Netflix in a report on Monday, April 21st. Finally, Citigroup reaffirmed a "neutral" rating and set a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

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.

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