Netflix, Inc. (NASDAQ:NFLX) Stake Lowered by Greenleaf Trust

Greenleaf Trust trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,501 shares of the Internet television network's stock after selling 748 shares during the period. Greenleaf Trust's holdings in Netflix were worth $8,860,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its stake in Netflix by 8.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after purchasing an additional 110,432 shares during the period. PharVision Advisers LLC purchased a new position in shares of Netflix in the 4th quarter worth $873,000. New England Research & Management Inc. boosted its holdings in Netflix by 148.5% in the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after acquiring an additional 1,268 shares during the last quarter. First National Trust Co grew its position in Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock valued at $1,121,000 after acquiring an additional 12 shares during the period. Finally, Xcel Wealth Management LLC increased its stake in Netflix by 15.2% during the first quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network's stock worth $459,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction on 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 sale, the director owned 79,040 shares in the company, valued at $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the transaction, the director owned 7,969 shares in the company, valued at $8,959,227.94. This represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 186,723 shares of company stock valued at $223,307,201 in the last three months. 1.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NFLX shares. Cfra Research raised Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Jefferies Financial Group lifted their target price on shares of Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Loop Capital reissued a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Guggenheim reaffirmed a "buy" rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Phillip Securities raised Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,185.61.

Netflix Stock Performance

NASDAQ NFLX traded up $12.97 during trading hours on Wednesday, reaching $1,288.28. The company's stock had a trading volume of 2,380,931 shares, compared to its average volume of 3,760,056. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $1,214.45 and a 200 day simple moving average of $1,042.85. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15. The stock has a market cap of $548.25 billion, a PE ratio of 60.88, a PEG ratio of 2.34 and a beta of 1.59.

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 analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period in the previous year, the business posted $8.28 EPS. Equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

About Netflix

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.