Netflix, Inc. (NASDAQ:NFLX) Stake Lowered by World Equity Group Inc.

World Equity Group Inc. cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 52.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 722 shares of the Internet television network's stock after selling 794 shares during the quarter. World Equity Group Inc.'s holdings in Netflix were worth $673,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Netflix by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after purchasing an additional 171,712 shares during the last quarter. FMR LLC grew its holdings in Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after buying an additional 375,234 shares in the last quarter. Geode Capital Management LLC grew its holdings in Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after buying an additional 175,596 shares in the last quarter. GAMMA Investing LLC grew its holdings in 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 worth $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Finally, Norges Bank bought a new position in Netflix in the 4th quarter worth approximately $5,019,087,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Up 0.8%

Shares of Netflix stock opened at $1,231.49 on Friday. The firm has a market capitalization of $524.09 billion, a PE ratio of 58.20, a price-to-earnings-growth ratio of 2.36 and a beta of 1.59. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The stock's fifty day moving average is $1,150.80 and its 200-day moving average is $1,010.84.

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, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the previous year, the firm earned $8.28 earnings per share. Equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 1,090 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total value of $1,362,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,140 shares of company stock valued at $210,271,552. Company insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of recent analyst reports. FBN Securities initiated coverage on Netflix in a report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price objective for the company. Piper Sandler set a $1,150.00 price objective on Netflix and gave the stock an "overweight" rating in a report on Monday, April 21st. KeyCorp increased their price objective on Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Pivotal Research increased their price objective on Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a report on Friday. Finally, Wolfe Research set a $1,340.00 target price on Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,172.73.

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.

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