Figure 8 Investment Strategies LLC Has $2.48 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Figure 8 Investment Strategies LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 32.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,657 shares of the Internet television network's stock after selling 1,260 shares during the period. Netflix accounts for approximately 2.6% of Figure 8 Investment Strategies LLC's investment portfolio, making the stock its 14th biggest position. Figure 8 Investment Strategies LLC's holdings in Netflix were worth $2,478,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NFLX. Brighton Jones LLC boosted its position in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after acquiring an additional 257 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of Netflix in the fourth quarter valued at about $12,212,000. Revolve Wealth Partners LLC boosted its position in shares of Netflix by 16.4% in the fourth 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. Navellier & Associates Inc. bought a new stake in shares of Netflix in the fourth quarter valued at about $237,000. Finally, Pinnacle Financial Partners Inc boosted its position in shares of Netflix by 17.8% in the fourth quarter. Pinnacle Financial Partners Inc now owns 7,427 shares of the Internet television network's stock valued at $6,620,000 after acquiring an additional 1,123 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In other news, Director Jay C. Hoag sold 31,750 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director now owns 63,040 shares of the company's stock, valued at $78,948,144. This trade represents a 33.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Cletus R. Willems sold 298 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the sale, the insider now directly owns 31,610 shares of the company's stock, valued at approximately $35,972,180. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,140 shares of company stock valued at $210,271,552. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Performance

Netflix stock opened at $1,231.49 on Monday. The business has a 50 day moving average of $1,150.80 and a 200-day moving average of $1,012.19. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $524.09 billion, a P/E ratio of 58.20, a P/E/G ratio of 2.38 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data 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 company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter in the prior year, the firm posted $8.28 earnings per share. On average, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Ratings Changes

NFLX has been the subject of a number of recent research reports. Wedbush reissued an "outperform" rating and issued a $1,200.00 target price on shares of Netflix in a research report on Monday, May 5th. Canaccord Genuity Group upped their price objective on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Pivotal Research upped their price objective on shares of Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a research report on Friday. FBN Securities assumed coverage on shares of Netflix in a research report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective for the company. Finally, Citigroup reaffirmed a "neutral" rating and set a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,172.73.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.