Horizon Investments LLC Sells 1,366 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Horizon Investments LLC has reduced its stake in Netflix, decreasing its holdings by 10.7%, now valued at approximately $10.63 million with 11,401 shares owned.
• In the first quarter, several institutional investors significantly increased their positions in Netflix, with GAMMA Investing LLC boosting its stake by over 109,524%, adding nearly 8.83 million shares.
• Netflix recently reported $7.19 EPS for the quarter, exceeding consensus estimates, with a revenue of $11.08 billion, reflecting a year-over-year growth of 15.9%.

Horizon Investments LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 10.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,401 shares of the Internet television network's stock after selling 1,366 shares during the period. Horizon Investments LLC's holdings in Netflix were worth $10,632,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC grew its holdings in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix during the 4th quarter worth $27,000. Transce3nd LLC acquired a new position in Netflix during the 4th quarter worth $32,000. Copia Wealth Management acquired a new position in Netflix during the 4th quarter worth $37,000. Finally, Stuart Chaussee & Associates Inc. grew its holdings in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Wells Fargo & Company raised their price objective on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. TD Cowen lifted their price target on shares of Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a report on Friday, July 18th. Benchmark reaffirmed a "hold" rating on shares of Netflix in a report on Monday, April 21st. Finally, Robert W. Baird boosted their target price on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insiders Place Their Bets

In related news, insider Cletus R. Willems sold 238 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total transaction of $274,537.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Theodore A. Sarandos sold 2,026 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the transaction, the chief executive officer owned 15,168 shares of the company's stock, valued at approximately $17,604,284.16. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,307 shares of company stock valued at $179,443,809 in the last three months. Company insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of Netflix stock traded up $8.39 on Friday, reaching $1,238.95. The stock had a trading volume of 2,766,194 shares, compared to its average volume of 3,760,348. The business's 50-day moving average price is $1,231.23 and its two-hundred day moving average price is $1,102.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a fifty-two week low of $660.80 and a fifty-two week high of $1,341.15. The stock has a market cap of $526.47 billion, a P/E ratio of 52.79, a price-to-earnings-growth ratio of 2.07 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same period in the previous year, the company earned $4.88 earnings per share. Netflix's revenue for the quarter was up 15.9% on a year-over-year basis. On average, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix Company 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.