Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Golden State Equity Partners

Golden State Equity Partners cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,087 shares of the Internet television network's stock after selling 228 shares during the period. Netflix makes up about 0.8% of Golden State Equity Partners' holdings, making the stock its 21st biggest position. Golden State Equity Partners' holdings in Netflix were worth $3,811,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NFLX. GAMMA Investing LLC grew its holdings in shares of Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Norges Bank acquired a new stake in Netflix during the 4th quarter worth about $5,019,087,000. Proficio Capital Partners LLC boosted its position in Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after acquiring an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock valued at $2,051,016,000 after acquiring an additional 856,307 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Netflix by 318.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock valued at $870,752,000 after purchasing an additional 743,724 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Netflix news, insider Cletus R. Willems sold 298 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total value of $339,124.00. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $35,972,180. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares of the company's stock, valued at $3,402,068.52. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,660 shares of company stock worth $209,802,025 over the last 90 days. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Up 2.0%

NASDAQ NFLX opened at $1,279.11 on Wednesday. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,282.57. The stock has a market cap of $544.35 billion, a PE ratio of 60.45, a PEG ratio of 2.43 and a beta of 1.59. The firm has a 50-day simple moving average of $1,163.30 and a 200 day simple moving average of $1,016.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion during 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 last year, the company earned $8.28 EPS. On average, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on NFLX. Needham & Company LLC reaffirmed a "buy" rating and set a $1,126.00 price objective on shares of Netflix in a research report on Thursday, April 17th. Robert W. Baird boosted their price target on shares of Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a report on Friday, May 16th. KeyCorp upped their price target on shares of Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Benchmark reiterated a "hold" rating on shares of Netflix in a report on Monday, April 21st. Finally, Jefferies Financial Group boosted their target price 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. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and a consensus price target of $1,172.73.

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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