Retirement Guys Formula LLC Lowers Holdings in Netflix, Inc. (NASDAQ:NFLX)

Retirement Guys Formula LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,304 shares of the Internet television network's stock after selling 259 shares during the quarter. Netflix accounts for 1.1% of Retirement Guys Formula LLC's holdings, making the stock its 22nd largest position. Retirement Guys Formula LLC's holdings in Netflix were worth $2,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC boosted its position in Netflix by 8.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after purchasing an additional 110,432 shares in the last quarter. PharVision Advisers LLC purchased a new position in shares of Netflix during the 4th quarter valued at approximately $873,000. New England Research & Management Inc. lifted its position in shares of Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after buying an additional 1,268 shares in the last quarter. First National Trust Co grew its stake in Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock valued at $1,121,000 after acquiring an additional 12 shares during the period. Finally, Haven Private LLC purchased a new stake in Netflix in the 4th quarter worth $733,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Buying and Selling

In related news, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,402,068.52. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,660 shares of company stock valued at $209,802,025. 1.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NFLX has been the topic of several recent analyst reports. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Rosenblatt Securities upped their price target on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a research report on Monday, April 21st. Morgan Stanley lifted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Guggenheim reiterated a "buy" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Finally, Canaccord Genuity Group increased their target price on Netflix from $1,200.00 to $1,380.00 and gave the company a "buy" rating in a report on Friday, May 16th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and a consensus target price of $1,172.73.

Netflix Trading Up 1.0%

NFLX traded up $12.89 during trading hours on Wednesday, reaching $1,292.00. The company's stock had a trading volume of 579,010 shares, compared to its average volume of 4,345,199. The stock has a market cap of $549.84 billion, a PE ratio of 60.94, a P/E/G ratio of 2.43 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,298.00. 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 business's 50-day moving average is $1,163.30 and its 200-day moving average is $1,016.26.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate 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 business earned $8.28 earnings per share. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.