Eads & Heald Wealth Management Sells 242 Shares of Netflix, Inc. (NASDAQ:NFLX)

Eads & Heald Wealth Management trimmed its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,063 shares of the Internet television network's stock after selling 242 shares during the period. Netflix accounts for 1.5% of Eads & Heald Wealth Management's investment portfolio, making the stock its 12th biggest position. Eads & Heald Wealth Management's holdings in Netflix were worth $2,856,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Netflix by 0.5% during 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 purchasing an additional 171,712 shares during the last quarter. FMR LLC lifted its holdings 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 acquiring an additional 375,234 shares during the last quarter. Geode Capital Management LLC grew its position in Netflix by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after acquiring an additional 175,596 shares in the last quarter. GAMMA Investing LLC grew its position 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 worth $8,239,576,000 after acquiring an additional 8,827,662 shares in the last quarter. Finally, Norges Bank bought a new position in Netflix in the fourth quarter valued at $5,019,087,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NFLX shares. UBS Group boosted their target price on Netflix from $1,150.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group boosted their price objective on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research report on Wednesday. Phillip Securities raised shares of Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Benchmark reaffirmed a "hold" rating on shares of Netflix in a research note on Monday, April 21st. Finally, Citigroup restated a "neutral" rating and set a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,182.58.

Netflix Stock Up 0.8%

Netflix stock traded up $10.38 during mid-day trading on Thursday, hitting $1,295.24. The company had a trading volume of 2,006,224 shares, compared to its average volume of 3,752,266. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The company has a market capitalization of $551.21 billion, a PE ratio of 61.21, a price-to-earnings-growth ratio of 2.50 and a beta of 1.59. The stock's 50 day moving average price is $1,200.03 and its two-hundred day moving average price is $1,031.42. 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 (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the firm earned $8.28 EPS. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the transaction, the director owned 79,040 shares of the company's stock, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bradford L. Smith sold 3,919 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the sale, the director owned 7,969 shares of the company's stock, valued at approximately $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,723 shares of company stock worth $223,307,201. Corporate 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.