OLD National Bancorp IN Lowers Holdings in Netflix, Inc. (NASDAQ:NFLX)

OLD National Bancorp IN reduced its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,216 shares of the Internet television network's stock after selling 351 shares during the quarter. OLD National Bancorp IN's holdings in Netflix were worth $2,999,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its stake in shares of Netflix by 951.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 16,683 shares of the Internet television network's stock worth $15,557,000 after acquiring an additional 15,096 shares in the last quarter. ARS Wealth Advisors Group LLC increased its stake in shares of Netflix by 2.0% in the first quarter. ARS Wealth Advisors Group LLC now owns 1,467 shares of the Internet television network's stock worth $1,368,000 after purchasing an additional 29 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in Netflix by 7.5% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 1,623 shares of the Internet television network's stock worth $1,513,000 after purchasing an additional 113 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Netflix by 4.7% during the 1st quarter. Revolve Wealth Partners LLC now owns 1,071 shares of the Internet television network's stock worth $999,000 after purchasing an additional 48 shares in the last quarter. Finally, Charter Oak Capital Management LLC raised its holdings in shares of Netflix by 12.1% in the 1st quarter. Charter Oak Capital Management LLC now owns 316 shares of the Internet television network's stock worth $295,000 after buying an additional 34 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Insider Activity at Netflix

In other news, CAO Jeffrey William Karbowski sold 480 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 3,691 shares of the company's stock, valued at approximately $3,402,068.52. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock worth $210,271,552 in the last 90 days. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of NFLX stock traded up $16.26 on Wednesday, hitting $1,219.88. The company's stock had a trading volume of 2,377,355 shares, compared to its average volume of 3,762,564. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The stock's 50 day moving average is $1,106.59 and its 200-day moving average is $994.50. The company has a market capitalization of $519.15 billion, a PE ratio of 61.52, a PEG ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results 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. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter in the prior year, the business earned $8.28 earnings per share. Equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NFLX. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,126.00 target price on shares of Netflix in a research note on Thursday, April 17th. Citigroup reiterated a "neutral" rating and issued a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Phillip Securities raised shares of Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. Canaccord Genuity Group raised their target price on Netflix from $1,200.00 to $1,380.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Loop Capital reaffirmed a "hold" rating on shares of Netflix in a research note on Monday, March 24th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,149.91.

About Netflix

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.