Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 38.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,283 shares of the Internet television network's stock after selling 18,738 shares during the period. Netflix accounts for approximately 1.3% of Alpha Cubed Investments LLC's investment portfolio, making the stock its 24th biggest holding. Alpha Cubed Investments LLC's holdings in Netflix were worth $28,240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC raised its stake in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd acquired a new position in shares of Netflix during the fourth quarter valued at about $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the 4th quarter valued at approximately $32,000. Copia Wealth Management acquired a new stake in Netflix in the 4th quarter worth approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Netflix during the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Trading Up 0.8%

Shares of NASDAQ:NFLX opened at $1,295.24 on Monday. The business's 50 day moving average price is $1,207.87 and its 200-day moving average price is $1,038.56. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The firm has a market capitalization of $551.21 billion, a price-to-earnings ratio of 61.21, a price-to-earnings-growth ratio of 2.35 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the previous year, the firm posted $8.28 EPS. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NFLX shares. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Macquarie raised their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Jefferies Financial Group lifted their price target on Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. FBN Securities began coverage on Netflix in a report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price objective on the stock. Finally, Oppenheimer raised their price objective on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and an average price target of $1,182.58.

Insiders Place Their Bets

In related news, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total value of $797,840.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reed Hastings sold 9,673 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the completion of the sale, the director directly owned 394 shares of the company's stock, valued at $523,669.34. This trade represents a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,723 shares of company stock valued at $223,307,201. Corporate insiders own 1.37% of the company's stock.

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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