Peregrine Asset Advisers Inc. Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Peregrine Asset Advisers Inc. cut its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 50.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,010 shares of the Internet television network's stock after selling 1,032 shares during the quarter. Peregrine Asset Advisers Inc.'s holdings in Netflix were worth $942,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after acquiring an additional 171,712 shares in the last quarter. FMR LLC raised its holdings in Netflix by 1.8% in 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 in the last quarter. Geode Capital Management LLC raised its holdings in Netflix by 1.9% in the fourth 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 in the last quarter. GAMMA Investing LLC raised its holdings in 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 valued at $8,239,576,000 after acquiring an additional 8,827,662 shares in the last quarter. Finally, Norges Bank acquired a new stake in Netflix in the fourth quarter valued at $5,019,087,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NFLX shares. Sanford C. Bernstein increased their target price on shares of Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Evercore ISI restated an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. Phillip Securities upgraded shares of Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. BMO Capital Markets restated an "outperform" rating and set a $1,425.00 price target (up previously from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Finally, Robert W. Baird upped their price target on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research report on Monday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Stock Down 3.5%

Shares of NFLX traded down $43.19 on Tuesday, hitting $1,190.08. The company's stock had a trading volume of 5,033,206 shares, compared to its average volume of 3,775,414. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm's fifty day moving average price is $1,232.59 and its 200-day moving average price is $1,063.17. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The firm has a market capitalization of $506.46 billion, a price-to-earnings ratio of 50.71, a P/E/G ratio of 2.15 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results 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. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the firm posted $4.88 EPS. The business's revenue was up 15.9% on a year-over-year basis. On average, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In other news, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the sale, the director directly owned 394 shares of the company's stock, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,179,614.58. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,563 shares of company stock worth $223,147,201 over the last three months. Company insiders own 1.37% of the company's stock.

About Netflix

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.