Oppenheimer Asset Management Inc. Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Oppenheimer Asset Management Inc. trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 17.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,254 shares of the Internet television network's stock after selling 12,899 shares during the quarter. Netflix accounts for approximately 0.7% of Oppenheimer Asset Management Inc.'s investment portfolio, making the stock its 22nd biggest position. Oppenheimer Asset Management Inc.'s holdings in Netflix were worth $56,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. West Michigan Advisors LLC boosted its position in Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock valued at $692,000 after purchasing an additional 10 shares during the period. Warwick Investment Management Inc. boosted its position in Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock valued at $266,000 after purchasing an additional 10 shares during the period. MRP Capital Investments LLC boosted its position in Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after purchasing an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC boosted its position in Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after purchasing an additional 10 shares during the period. Finally, Mission Creek Capital Partners Inc. boosted its position in Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after purchasing an additional 10 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares of the company's stock, valued at approximately $362,933.10. This represents a 98.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $1,362,500.00. The disclosure for this sale can be found here. Insiders sold a total of 185,140 shares of company stock valued at $210,271,552 in the last quarter. Corporate insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NFLX. KeyCorp boosted their price objective on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Macquarie boosted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Jefferies Financial Group boosted their price target on Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Cfra Research upgraded Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Eleven research 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,172.73.

Netflix Stock Performance

NFLX opened at $1,231.49 on Monday. The company has a market cap of $524.09 billion, a PE ratio of 58.20, a price-to-earnings-growth ratio of 2.38 and a beta of 1.59. The stock has a 50-day moving average of $1,150.80 and a 200-day moving average of $1,012.19. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,262.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last posted 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. The business had revenue of $10.54 billion during 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 earned $8.28 EPS. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.

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