Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Davidson Investment Advisors

Davidson Investment Advisors cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 17.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,015 shares of the Internet television network's stock after selling 6,620 shares during the quarter. Netflix comprises approximately 1.5% of Davidson Investment Advisors' investment portfolio, making the stock its 19th biggest position. Davidson Investment Advisors' holdings in Netflix were worth $29,855,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NFLX. Brighton Jones LLC grew its holdings in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after acquiring an additional 144 shares during the period. BIP Wealth LLC boosted its holdings in Netflix by 23.8% during the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after acquiring an additional 87 shares during the period. Proficio Capital Partners LLC grew its position in Netflix by 39.1% in the 4th quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network's stock valued at $1,926,000 after acquiring an additional 607 shares in the last quarter. Finally, Welch & Forbes LLC grew its position in Netflix by 5.8% in the 4th quarter. Welch & Forbes LLC now owns 328 shares of the Internet television network's stock valued at $292,000 after acquiring an additional 18 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the subject of several research reports. UBS Group lifted their target price on Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Pivotal Research lifted their target price on Netflix from $1,350.00 to $1,600.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Jefferies Financial Group lifted their target price on Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. KeyCorp lifted their target price on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,200.00 target price (up from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Twelve investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,182.58.

Netflix Stock Performance

NASDAQ NFLX traded down $14.31 on Tuesday, reaching $1,275.31. The stock had a trading volume of 3,281,114 shares, compared to its average volume of 3,765,566. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The business's 50-day moving average price is $1,211.46 and its 200 day moving average price is $1,041.22. The stock has a market cap of $542.73 billion, a P/E ratio of 60.27, a price-to-earnings-growth ratio of 2.34 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data 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 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter in the previous year, the business earned $8.28 earnings per share. As a group, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ann Mather sold 1,090 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total value of $1,362,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 in the last 90 days. Company insiders own 1.37% of the company's stock.

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.