Netflix, Inc. (NASDAQ:NFLX) Holdings Trimmed by GFG Capital LLC

GFG Capital LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 26.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 13,217 shares of the Internet television network's stock after selling 4,797 shares during the quarter. Netflix accounts for approximately 3.6% of GFG Capital LLC's portfolio, making the stock its 4th largest holding. GFG Capital LLC's holdings in Netflix were worth $12,326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fullcircle Wealth LLC raised its position in Netflix by 2.5% during the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after acquiring an additional 9 shares in the last quarter. Warwick Investment Management Inc. grew its stake in shares of Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after acquiring an additional 10 shares during the last quarter. MRP Capital Investments LLC increased its position in Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after acquiring an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC increased its position in Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after acquiring an additional 10 shares during the period. Finally, Mission Creek Capital Partners Inc. increased its position in Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after acquiring an additional 10 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the sale, the director owned 394 shares of the company's stock, valued at approximately $446,421.70. The trade was a 98.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction that occurred 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 sale, the director directly owned 7,969 shares in the company, valued at approximately $8,959,227.94. This trade represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,723 shares of company stock valued at $223,307,201. Insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NFLX. Loop Capital restated a "hold" rating on shares of Netflix in a research note on Monday, March 24th. Bank of America upped their target price on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Citigroup restated a "neutral" rating and set a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Jefferies Financial Group upped their price target on Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Finally, FBN Securities started coverage on shares of Netflix in a report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,185.61.

Netflix Trading Down 1.1%

NASDAQ:NFLX opened at $1,275.31 on Wednesday. The firm has a market cap of $542.73 billion, a PE ratio of 60.27, a price-to-earnings-growth ratio of 2.34 and a beta of 1.59. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The stock has a fifty day moving average price of $1,214.45 and a 200 day moving average price of $1,042.85. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter in the previous year, the company earned $8.28 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix 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.

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