Profit Investment Management LLC Sells 478 Shares of Netflix, Inc. (NASDAQ:NFLX)

Profit Investment Management LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 18.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,105 shares of the Internet television network's stock after selling 478 shares during the quarter. Netflix makes up about 1.8% of Profit Investment Management LLC's holdings, making the stock its 23rd largest position. Profit Investment Management LLC's holdings in Netflix were worth $1,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Capital & Planning LLC purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $809,000. Brighton Jones LLC increased its position in shares of Netflix by 5.0% during the fourth 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 during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $12,212,000. Revolve Wealth Partners LLC increased its position in shares of Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after acquiring an additional 144 shares during the last quarter. Finally, Foster & Motley Inc. purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $226,000. Institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on NFLX. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $1,220.00 price target (up from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Wells Fargo & Company raised their target price on Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Morgan Stanley raised their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Oppenheimer reissued an "outperform" rating and issued a $1,200.00 target price (up from $1,150.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Phillip Securities raised Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,122.33.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at $3,402,068.52. This represents a 41.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cletus R. Willems sold 298 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total value of $339,124.00. Following the sale, the insider now owns 31,610 shares of the company's stock, valued at $35,972,180. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 100,262 shares of company stock worth $106,599,765. 1.37% of the stock is currently owned by corporate insiders.

Netflix Price Performance

Shares of NFLX traded up $11.75 during midday trading on Monday, reaching $1,218.98. The stock had a trading volume of 2,287,791 shares, compared to its average volume of 3,751,692. The company's 50-day moving average is $1,059.27 and its 200 day moving average is $976.26. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,219.76. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $518.76 billion, a price-to-earnings ratio of 61.47, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58.

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 analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the prior year, the business earned $8.28 EPS. On average, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.