Weatherly Asset Management L. P. Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

Weatherly Asset Management L. P. trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,041 shares of the Internet television network's stock after selling 827 shares during the period. Netflix makes up 3.8% of Weatherly Asset Management L. P.'s investment portfolio, making the stock its 4th largest holding. Weatherly Asset Management L. P.'s holdings in Netflix were worth $42,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in NFLX. GAMMA Investing LLC raised 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 purchasing an additional 8,827,662 shares during the last quarter. Norges Bank bought a new stake in Netflix during the fourth quarter valued at approximately $5,019,087,000. Arrowstreet Capital Limited Partnership grew its position in Netflix by 59.3% during the fourth 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 buying an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA grew its position in Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock valued at $870,752,000 after buying an additional 743,724 shares during the period. Finally, Northern Trust Corp grew its position in Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after buying an additional 570,674 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other news, Director Reed Hastings sold 26,977 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the sale, the director directly owned 394 shares in the company, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the completion of the sale, the chief financial officer owned 3,691 shares in the company, valued at $4,179,614.58. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 in the last 90 days. Insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NFLX shares. Canaccord Genuity Group restated a "buy" rating on shares of Netflix in a research report on Thursday. Pivotal Research restated a "buy" rating on shares of Netflix in a research report on Thursday. Guggenheim restated a "buy" rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Wedbush reiterated an "outperform" rating and issued a $1,400.00 price target on shares of Netflix in a research report on Monday. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $1,200.00 price target (up from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus price target of $1,220.58.

Netflix Stock Up 1.4%

Netflix stock traded up $16.84 during midday trading on Monday, hitting $1,261.95. 2,774,453 shares of the company's stock were exchanged, compared to its average volume of 3,764,148. 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, 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 of $1,221.70 and a two-hundred day moving average of $1,050.73. The company has a market cap of $537.05 billion, a PE ratio of 59.64, a P/E/G ratio of 2.25 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the prior year, the business earned $8.28 EPS. As a group, analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.