Reyes Financial Architecture Inc. Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Reyes Financial Architecture Inc. cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 68.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 520 shares of the Internet television network's stock after selling 1,123 shares during the quarter. Reyes Financial Architecture Inc.'s holdings in Netflix were worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC grew its position in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in shares of Netflix during the 4th quarter valued at $27,000. Transce3nd LLC bought a new position in shares of Netflix during the 4th quarter valued at $32,000. Copia Wealth Management purchased a new position in Netflix in the 4th quarter worth $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Netflix in the first quarter worth $42,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

NASDAQ:NFLX traded down $5.48 during trading hours on Friday, reaching $1,245.11. The company had a trading volume of 3,948,915 shares, compared to its average volume of 3,768,095. The firm has a market cap of $529.88 billion, a price-to-earnings ratio of 58.84, a PEG ratio of 2.26 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm's 50 day moving average price is $1,221.70 and its 200-day moving average price is $1,049.85. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results 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 39.61% and a net margin of 23.07%. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period last year, the business posted $8.28 EPS. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Moffett Nathanson reissued a "buy" rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday. Loop Capital reiterated a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, KeyCorp lifted 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 note on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,214.52.

Insider Transactions at Netflix

In other news, Director Reed Hastings sold 26,977 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the sale, the director owned 394 shares of the company's stock, valued at $446,421.70. This represents a 98.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bradford L. Smith sold 3,919 shares of the firm'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 completion of the transaction, the director directly owned 7,969 shares in the company, valued at approximately $8,959,227.94. The trade was a 32.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,723 shares of company stock valued at $223,307,201. Company insiders own 1.37% of the company's stock.

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.