Hollencrest Capital Management Sells 332 Shares of Netflix, Inc. (NASDAQ:NFLX)

Hollencrest Capital Management reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 22.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,132 shares of the Internet television network's stock after selling 332 shares during the quarter. Hollencrest Capital Management's holdings in Netflix were worth $1,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings 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 buying an additional 257 shares in the last quarter. Revolve Wealth Partners LLC increased its stake 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 worth $912,000 after acquiring an additional 144 shares during the last quarter. BIP Wealth LLC increased its stake in shares of Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after acquiring an additional 87 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Netflix by 39.1% in the fourth quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network's stock worth $1,926,000 after acquiring an additional 607 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in Netflix by 36.1% during the fourth quarter. Advisors Asset Management Inc. now owns 6,213 shares of the Internet television network's stock worth $5,538,000 after buying an additional 1,647 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 1.0%

Shares of NFLX stock traded up $12.04 on Monday, hitting $1,221.28. The stock had a trading volume of 1,747,196 shares, compared to its average volume of 4,281,275. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The firm has a market cap of $519.74 billion, a P/E ratio of 52.04, a PEG ratio of 2.15 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $1,232.59 and a two-hundred day moving average price of $1,063.17.

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

Analysts Set New Price Targets

Several equities analysts have commented on NFLX shares. 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 target price on the stock. Rosenblatt Securities lifted their target price on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research report on Friday. The Goldman Sachs Group lifted their target price on Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price target on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Oppenheimer lifted their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Insider Buying and Selling

In other Netflix news, CAO Jeffrey William Karbowski sold 620 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Reed Hastings sold 9,673 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the sale, the director directly owned 394 shares in the company, valued at $523,669.34. This trade represents a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 186,563 shares of company stock valued at $223,147,201. Corporate insiders own 1.37% of the company's stock.

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.