Next Capital Management LLC Sells 530 Shares of Netflix, Inc. (NASDAQ:NFLX)

Next Capital Management LLC lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 36.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 943 shares of the Internet television network's stock after selling 530 shares during the quarter. Next Capital Management LLC's holdings in Netflix were worth $879,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC raised its position in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after purchasing an additional 375,234 shares in the last quarter. Geode Capital Management LLC grew its stake in Netflix by 1.9% during 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 during the last quarter. GAMMA Investing LLC grew its stake in shares of 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 in the last quarter. Norges Bank acquired a new stake in shares of Netflix in the fourth quarter valued at $5,019,087,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of Netflix by 1.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network's stock valued at $4,582,568,000 after buying an additional 82,564 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NFLX shares. Robert W. Baird increased their price objective on Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research note on Monday. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Sanford C. Bernstein increased their target price on Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. UBS Group restated a "market underperform" rating on shares of Netflix in a research note on Saturday, July 19th. Finally, Moffett Nathanson reiterated a "buy" rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insider Activity

In other Netflix news, Director Reed Hastings sold 9,673 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the transaction, the director directly owned 394 shares in the company, valued at approximately $523,669.34. This trade represents a 96.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 1,090 shares of the stock in a transaction that occurred on 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 quarter, insiders have sold 185,923 shares of company stock valued at $222,445,095. Company insiders own 1.37% of the company's stock.

Netflix Trading Down 0.0%

Shares of NASDAQ:NFLX traded down $0.27 during midday trading on Friday, hitting $1,180.49. 2,583,635 shares of the stock traded hands, compared to its average volume of 4,301,109. The stock has a market capitalization of $501.63 billion, a PE ratio of 50.30, a P/E/G ratio of 1.98 and a beta of 1.59. The business's 50 day moving average is $1,236.66 and its two-hundred day moving average is $1,069.32. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.88 earnings per share. As a group, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix 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.