IPG Investment Advisors LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,711 shares of the Internet television network's stock after selling 541 shares during the period. IPG Investment Advisors LLC's holdings in Netflix were worth $2,528,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in NFLX. Brighton Jones LLC increased its position in shares of Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after acquiring an additional 257 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Netflix by 16.4% during 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 in the last quarter. BIP Wealth LLC increased its position in shares of Netflix by 23.8% during 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 in the last quarter. OLD Mission Capital LLC bought a new stake in shares of Netflix during the fourth quarter worth about $361,000. Finally, Oarsman Capital Inc. increased its position in shares of Netflix by 44.8% during the fourth quarter. Oarsman Capital Inc. now owns 388 shares of the Internet television network's stock worth $346,000 after acquiring an additional 120 shares in the last quarter. 80.93% of the stock is owned by institutional investors.
Netflix Stock Performance
NASDAQ NFLX opened at $1,158.60 on Monday. The company's 50 day simple moving average is $1,234.32 and its two-hundred day simple moving average is $1,085.67. The stock has a market capitalization of $492.32 billion, a PE ratio of 49.37, a P/E/G ratio of 1.95 and a beta of 1.59. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.
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, topping analysts' consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.88 EPS. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.
Insider Transactions at Netflix
In other news, Director Bradford L. Smith sold 3,919 shares of the 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 of the company's stock, valued at $8,959,227.94. This represents a 32.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total transaction of $3,151,553.67. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,472,273.97. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,830 shares of company stock worth $153,102,930. Company insiders own 1.37% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on NFLX. Morgan Stanley reissued an "equal weight" rating on shares of Netflix in a research report on Monday, July 21st. Bank of America boosted their target price on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a research report on Tuesday, July 15th. Benchmark reaffirmed a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Finally, Moffett Nathanson reaffirmed a "buy" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.
Read Our Latest Report on Netflix
Netflix Profile
(
Free Report)
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.
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