Westbourne Investment Advisors Inc. Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Westbourne Investment Advisors Inc. lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,039 shares of the Internet television network's stock after selling 206 shares during the period. Netflix comprises about 2.7% of Westbourne Investment Advisors Inc.'s portfolio, making the stock its 10th biggest position. Westbourne Investment Advisors Inc.'s holdings in Netflix were worth $7,497,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Norges Bank bought a new position in shares of Netflix during the 4th quarter worth about $5,019,087,000. Arrowstreet Capital Limited Partnership grew its stake 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 buying an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA increased its position in 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 buying an additional 743,724 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after buying an additional 570,674 shares during the period. Institutional investors own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In related news, Director Jay C. Hoag sold 32,515 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the transaction, the director directly owned 79,040 shares of the company's stock, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction that occurred on 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 transaction, the director owned 394 shares of the company's stock, valued at $446,421.70. This represents a 98.56% 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 worth $223,307,201 over the last ninety days. Company insiders own 1.37% of the company's stock.

Netflix Stock Performance

NASDAQ NFLX traded down $5.48 on Friday, hitting $1,245.11. 3,948,915 shares of the stock traded hands, compared to its average volume of 3,771,772. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The business's fifty day moving average is $1,219.93 and its two-hundred day moving average is $1,046.88. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The firm has a market capitalization of $529.88 billion, a price-to-earnings ratio of 58.84, a PEG ratio of 2.34 and a beta of 1.59.

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

Analyst Ratings Changes

A number of brokerages have commented on NFLX. 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. KeyCorp upped their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a report on Thursday. Moffett Nathanson reiterated a "buy" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Morgan Stanley boosted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Finally, Robert W. Baird raised their target price on Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Netflix has an average rating of "Moderate Buy" and a consensus price target of $1,214.52.

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.