Netflix, Inc. (NASDAQ:NFLX) Shares Sold by West Family Investments Inc.

West Family Investments Inc. decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 64.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 603 shares of the Internet television network's stock after selling 1,097 shares during the quarter. West Family Investments Inc.'s holdings in Netflix were worth $562,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NFLX. GAMMA Investing LLC increased its holdings in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after acquiring an additional 8,827,662 shares during the last quarter. Norges Bank purchased a new position in shares of Netflix in the 4th quarter valued at about $5,019,087,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Netflix by 59.3% in 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 during the last quarter. 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 acquiring an additional 743,724 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after acquiring an additional 570,674 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on NFLX. Wells Fargo & Company increased their price objective on Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Barclays restated a "sell" rating and set a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Robert W. Baird raised their price target on Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Loop Capital restated a "hold" rating on shares of Netflix in a research note on Tuesday. Finally, Benchmark restated a "hold" rating on shares of Netflix in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have given a buy rating and one has given 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 $1,227.39.

Insiders Place Their Bets

In related news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director directly owned 63,040 shares of the company's stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,723 shares of company stock worth $223,307,201. Corporate insiders own 1.37% of the company's stock.

Netflix Price Performance

Shares of NFLX traded down $9.96 during mid-day trading on Wednesday, hitting $1,250.31. The company's stock had a trading volume of 3,214,297 shares, compared to its average volume of 3,764,738. 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 has a 50-day simple moving average of $1,228.61 and a 200 day simple moving average of $1,056.00. The firm has a market capitalization of $532.09 billion, a P/E ratio of 59.09, a P/E/G ratio of 2.28 and a beta of 1.59. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period last year, the firm earned $8.28 EPS. Analysts predict that Netflix, Inc. will post 24.58 EPS 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.