L & S Advisors Inc Sells 3,173 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• L & S Advisors Inc reduced its stake in Netflix by 41.5%, selling 3,173 shares and leaving them with 4,472 shares valued at approximately $4.17 million.
• Multiple institutional investors, including Manchester Capital Management LLC and Liberty Wealth Management LLC, have altered their positions in Netflix, with some increasing investments significantly.
• Netflix reported a strong quarterly performance, with $7.19 earnings per share and revenues of $11.08 billion, surpassing analysts' expectations.

L & S Advisors Inc decreased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 41.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,472 shares of the Internet television network's stock after selling 3,173 shares during the quarter. L & S Advisors Inc's holdings in Netflix were worth $4,170,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC lifted its position in shares of Netflix by 13.4% during the 1st quarter. Manchester Capital Management LLC now owns 611 shares of the Internet television network's stock worth $570,000 after buying an additional 72 shares in the last quarter. Cheviot Value Management LLC bought a new position in shares of Netflix during the 1st quarter worth approximately $145,000. Liberty Wealth Management LLC lifted its position in shares of Netflix by 8,332.6% during the 1st quarter. Liberty Wealth Management LLC now owns 44,271 shares of the Internet television network's stock worth $418,000 after buying an additional 43,746 shares in the last quarter. J. Safra Sarasin Holding AG raised its position in Netflix by 2.8% in the first quarter. J. Safra Sarasin Holding AG now owns 7,823 shares of the Internet television network's stock worth $7,304,000 after acquiring an additional 214 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its position in Netflix by 26.3% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,179 shares of the Internet television network's stock worth $2,964,000 after acquiring an additional 662 shares during the period. Institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

Shares of NFLX opened at $1,158.60 on Friday. The company has a market cap of $492.32 billion, a PE ratio of 49.37, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $1,234.32 and a 200-day moving average price of $1,083.98. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted $4.88 EPS. As a group, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research reports. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Wall Street Zen raised shares of Netflix from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Seaport Res Ptn lowered shares of Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. Sanford C. Bernstein lifted their price objective on shares of Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Finally, Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Insider Activity

In other news, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total transaction of $797,840.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director owned 63,040 shares in the company, valued at $78,948,144. This trade represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,830 shares of company stock worth $153,102,930. Company 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.

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