Westbourne Investment Advisors Inc. Sells 206 Shares of Netflix, Inc. (NASDAQ:NFLX)

Westbourne Investment Advisors Inc. reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,039 shares of the Internet television network's stock after selling 206 shares during the period. Netflix makes up approximately 2.7% of Westbourne Investment Advisors Inc.'s investment portfolio, making the stock its 10th biggest holding. Westbourne Investment Advisors Inc.'s holdings in Netflix were worth $7,497,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC increased its position in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares during the last quarter. Brown Shipley& Co Ltd purchased a new position in Netflix in the fourth quarter valued at about $27,000. Transce3nd LLC acquired a new stake in shares of Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management purchased a new stake in Netflix in the 4th quarter worth approximately $37,000. Finally, Stuart Chaussee & Associates Inc. grew its stake in shares of Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NFLX shares. Citigroup restated a "neutral" rating and issued a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. UBS Group upped their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Oppenheimer upped their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Piper Sandler set a $1,150.00 target price on shares of Netflix and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, Wedbush restated an "outperform" rating and set a $1,200.00 price target on shares of Netflix in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,195.30.

Insider Transactions at Netflix

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

Netflix Stock Down 2.9%

NASDAQ NFLX traded down $36.76 during trading on Thursday, reaching $1,251.52. 2,268,943 shares of the company's stock were exchanged, compared to its average volume of 4,254,836. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. 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 stock has a market cap of $532.61 billion, a P/E ratio of 59.21, a price-to-earnings-growth ratio of 2.32 and a beta of 1.59. The company has a 50 day moving average price of $1,217.58 and a two-hundred day moving average price of $1,044.54.

Netflix (NASDAQ:NFLX - Get Free Report) last released 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. The company had revenue of $10.54 billion for 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 quarter in the previous year, the firm posted $8.28 EPS. On average, equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Netflix Company 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.