Legacy Advisors LLC Sells 310 Shares of Netflix, Inc. (NASDAQ:NFLX)

Legacy Advisors LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 8.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,360 shares of the Internet television network's stock after selling 310 shares during the quarter. Legacy Advisors LLC's holdings in Netflix were worth $3,133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC lifted its stake in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new stake in shares of Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC bought a new position in Netflix in the fourth quarter worth about $32,000. Copia Wealth Management acquired a new position in Netflix in the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. grew its holdings in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after purchasing an additional 45 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of recent research reports. Pivotal Research upped their price objective on Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a research note on Friday. Macquarie increased their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Needham & Company LLC reissued a "buy" rating and set a $1,126.00 target price on shares of Netflix in a research note on Thursday, April 17th. FBN Securities began coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target on the stock. Finally, Barclays boosted their price objective on Netflix from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a research report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Netflix has a consensus rating of "Moderate Buy" and an average target price of $1,172.73.

Netflix Stock Up 2.0%

Shares of NFLX traded up $25.57 during midday trading on Tuesday, reaching $1,279.11. 2,641,913 shares of the stock were exchanged, compared to its average volume of 3,744,234. The company has a market cap of $544.35 billion, a price-to-earnings ratio of 60.45, a P/E/G ratio of 2.38 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,282.13. The firm has a 50 day simple moving average of $1,157.24 and a 200-day simple moving average of $1,014.42.

Netflix (NASDAQ:NFLX - Get Free Report) last posted 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 firm had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the previous year, the company earned $8.28 earnings per share. Research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director now directly owns 63,040 shares of the company's stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares in the company, valued at $362,933.10. This trade represents a 98.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,660 shares of company stock valued at $209,802,025 over the last three months. 1.37% of the stock is currently owned by insiders.

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.