Oppenheimer & Co. Inc. Sells 1,312 Shares of Netflix, Inc. (NASDAQ:NFLX)

Oppenheimer & Co. Inc. lowered its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,203 shares of the Internet television network's stock after selling 1,312 shares during the period. Oppenheimer & Co. Inc.'s holdings in Netflix were worth $26,300,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Netflix in the 4th quarter valued at $12,212,000. Revolve Wealth Partners LLC raised its holdings in Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after acquiring an additional 144 shares during the period. Navellier & Associates Inc. bought a new stake in Netflix during the fourth quarter valued at about $237,000. Finally, Pinnacle Financial Partners Inc grew its position in shares of Netflix by 17.8% in the fourth quarter. Pinnacle Financial Partners Inc now owns 7,427 shares of the Internet television network's stock valued at $6,620,000 after purchasing an additional 1,123 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

Netflix stock opened at $1,231.49 on Monday. The stock has a 50-day simple moving average of $1,150.80 and a 200 day simple moving average of $1,012.19. The stock has a market capitalization of $524.09 billion, a price-to-earnings ratio of 58.20, a P/E/G ratio of 2.38 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same period last year, the firm earned $8.28 EPS. On average, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NFLX shares. Wedbush reissued an "outperform" rating and set a $1,200.00 price objective on shares of Netflix in a research report on Monday, May 5th. Phillip Securities raised Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. Wells Fargo & Company increased their price target on shares of Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday. Canaccord Genuity Group lifted their target price on Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Moffett Nathanson restated a "buy" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and a consensus price target of $1,172.73.

Insiders Place Their Bets

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction on Monday, April 21st. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 2,027 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $1,141.51, for a total value of $2,313,840.77. Following the completion of the transaction, the chief executive officer now directly owns 12,781 shares in the company, valued at approximately $14,589,639.31. This trade represents a 13.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 185,140 shares of company stock valued at $210,271,552. 1.37% of the stock is currently owned by insiders.

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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