Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Asset Dedication LLC

Asset Dedication LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,545 shares of the Internet television network's stock after selling 387 shares during the period. Netflix accounts for approximately 0.6% of Asset Dedication LLC's holdings, making the stock its 27th largest holding. Asset Dedication LLC's holdings in Netflix were worth $7,036,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the period. FMR LLC raised its holdings in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the period. Geode Capital Management LLC raised its holdings in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the period. GAMMA Investing LLC raised its holdings in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Finally, Norges Bank purchased a new position in shares of Netflix in the 4th quarter worth about $5,019,087,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NFLX. Morgan Stanley raised their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. The Goldman Sachs Group raised their target price on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Barclays reiterated a "sell" rating and set a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a report on Wednesday. Finally, Wedbush restated an "outperform" rating and set a $1,200.00 price objective on shares of Netflix in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,214.52.

Netflix Stock Down 0.4%

Shares of Netflix stock opened at $1,245.11 on Friday. The business's fifty day moving average price is $1,221.70 and its two-hundred day moving average price is $1,049.85. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $529.88 billion, a P/E ratio of 58.84, a PEG ratio of 2.26 and a beta of 1.59. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate 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 business earned $8.28 EPS. As a group, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In other news, Director Ann Mather sold 1,090 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total value of $1,362,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Jeffrey William Karbowski sold 620 shares of the business's stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is owned by corporate insiders.

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.

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