Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Western Financial Corp CA

Western Financial Corp CA cut its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,259 shares of the Internet television network's stock after selling 287 shares during the period. Netflix makes up 2.8% of Western Financial Corp CA's holdings, making the stock its 4th biggest holding. Western Financial Corp CA's holdings in Netflix were worth $4,904,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after buying an additional 171,712 shares during the period. FMR LLC increased its position in shares of Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of 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 valued at $8,287,823,000 after acquiring an additional 175,596 shares during the period. GAMMA Investing LLC lifted 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 worth $8,239,576,000 after acquiring an additional 8,827,662 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Netflix in the 4th quarter worth approximately $5,019,087,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on NFLX. Phillip Securities upgraded shares of Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. Pivotal Research raised their price target on Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Canaccord Genuity Group boosted their price objective on Netflix from $1,200.00 to $1,380.00 and gave the company a "buy" rating in a report on Friday, May 16th. Moffett Nathanson reissued a "buy" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Finally, Morgan Stanley lifted their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,172.73.

Netflix Stock Up 2.5%

Shares of NASDAQ NFLX traded up $31.42 during midday trading on Thursday, hitting $1,306.67. 2,601,963 shares of the company's stock were exchanged, compared to its average volume of 3,738,504. The firm's fifty day simple moving average is $1,169.57 and its 200-day simple moving average is $1,018.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $556.08 billion, a PE ratio of 61.75, a P/E/G ratio of 2.47 and a beta of 1.59. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,307.49.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data 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 net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the previous year, the firm earned $8.28 EPS. Research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director now directly owns 63,040 shares in the company, valued at approximately $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 1,090 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,660 shares of company stock worth $209,802,025. Corporate insiders own 1.37% of the company's stock.

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.