Klingenstein Fields & Co. LP Sells 510 Shares of Netflix, Inc. (NASDAQ:NFLX)

Klingenstein Fields & Co. LP lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,445 shares of the Internet television network's stock after selling 510 shares during the quarter. Netflix makes up approximately 1.5% of Klingenstein Fields & Co. LP's investment portfolio, making the stock its 22nd largest position. Klingenstein Fields & Co. LP's holdings in Netflix were worth $35,851,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Norges Bank acquired a new position in shares of Netflix in the fourth quarter valued at approximately $5,019,087,000. Arrowstreet Capital Limited Partnership grew its position in shares of Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock valued at $2,051,016,000 after purchasing an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock valued at $870,752,000 after purchasing an additional 743,724 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after purchasing an additional 570,674 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Stock Performance

NFLX stock traded up $13.70 during midday trading on Thursday, reaching $1,298.56. 1,330,557 shares of the company's stock traded hands, compared to its average volume of 3,749,954. The company has a 50-day moving average price of $1,200.03 and a two-hundred day moving average price of $1,031.42. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15. The firm has a market capitalization of $552.63 billion, a PE ratio of 61.37, a price-to-earnings-growth ratio of 2.50 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued 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 business had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter in the previous year, the firm posted $8.28 EPS. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NFLX. Macquarie upped their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Bank of America upped their target price on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Canaccord Genuity Group upped their target price on Netflix from $1,380.00 to $1,525.00 and gave the stock a "buy" rating in a research note on Wednesday. FBN Securities began coverage on Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target for the company. Finally, Morgan Stanley increased their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,182.58.

Insider Buying and Selling at Netflix

In other news, Director Ann Mather sold 1,090 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Reed Hastings sold 9,673 shares of the company's stock in a transaction on 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 completion of the transaction, the director directly owned 394 shares in the company, valued at approximately $523,669.34. The trade was a 96.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,723 shares of company stock worth $223,307,201. Company insiders own 1.37% of the company's stock.

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.