Convergence Investment Partners LLC Has $517,000 Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Convergence Investment Partners LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 77.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 554 shares of the Internet television network's stock after selling 1,875 shares during the period. Convergence Investment Partners LLC's holdings in Netflix were worth $517,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NFLX. Brighton Jones LLC grew its holdings in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after acquiring an additional 257 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after purchasing an additional 144 shares during the last quarter. BIP Wealth LLC lifted its stake in shares of Netflix by 23.8% in the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after purchasing an additional 87 shares during the last quarter. Modern Wealth Management LLC lifted its stake in shares of Netflix by 37.1% in the 4th quarter. Modern Wealth Management LLC now owns 1,031 shares of the Internet television network's stock valued at $919,000 after purchasing an additional 279 shares during the last quarter. Finally, FineMark National Bank & Trust lifted its stake in shares of Netflix by 2.7% in the 4th quarter. FineMark National Bank & Trust now owns 2,289 shares of the Internet television network's stock valued at $2,040,000 after purchasing an additional 61 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

NASDAQ NFLX traded down $0.27 during trading on Friday, reaching $1,180.49. The company's stock had a trading volume of 2,624,404 shares, compared to its average volume of 4,304,414. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $501.63 billion, a price-to-earnings ratio of 50.30, a price-to-earnings-growth ratio of 1.98 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 firm has a 50 day moving average price of $1,236.66 and a 200 day moving average price of $1,069.32.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data 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 net margin of 24.58% and a return on equity of 42.50%. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.88 EPS. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,211.67, for a total transaction of $3,151,553.67. Following the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,472,273.97. The trade was a 41.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bradford L. Smith sold 3,919 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the sale, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,923 shares of company stock valued at $222,445,095 in the last quarter. 1.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. KeyCorp boosted their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley reissued an "equal weight" rating on shares of Netflix in a research report on Monday. Seaport Res Ptn lowered shares of Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. FBN Securities initiated coverage on shares of Netflix in a report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective for the company. Finally, Oppenheimer increased their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

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.