Patton Fund Management Inc. Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Patton Fund Management Inc. decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 22.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,557 shares of the Internet television network's stock after selling 1,634 shares during the quarter. Netflix makes up 1.3% of Patton Fund Management Inc.'s holdings, making the stock its 19th largest holding. Patton Fund Management Inc.'s holdings in Netflix were worth $5,182,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NFLX. Brown Shipley& Co Ltd bought a new position in shares of Netflix during the fourth quarter worth $27,000. Transce3nd LLC purchased a new stake in shares of Netflix in the fourth quarter worth about $32,000. Copia Wealth Management bought a new position in Netflix during the fourth quarter valued at approximately $37,000. Stuart Chaussee & Associates Inc. grew its holdings in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after buying an additional 45 shares in the last quarter. Finally, FPC Investment Advisory Inc. increased its stake in Netflix by 628.6% in the 4th quarter. FPC Investment Advisory Inc. now owns 51 shares of the Internet television network's stock worth $50,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Insider Transactions at Netflix

In other news, Director Ann Mather sold 1,090 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. 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. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Up 0.1%

NASDAQ NFLX traded up $1.62 during trading on Wednesday, reaching $1,222.29. 2,277,207 shares of the company's stock traded hands, compared to its average volume of 3,745,432. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81. 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 firm has a market cap of $520.17 billion, a price-to-earnings ratio of 57.76, a price-to-earnings-growth ratio of 2.36 and a beta of 1.59. The company's 50 day simple moving average is $1,132.97 and its two-hundred day simple moving average is $1,004.83.

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 (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period last year, the company posted $8.28 earnings per share. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on NFLX shares. Barclays raised their target price on shares of Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Wells Fargo & Company lifted their price objective on shares of Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. KeyCorp upped their target price on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Bank of America lifted their price target on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, Morgan Stanley boosted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,156.73.

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.