Rhumbline Advisers Sells 1,970 Shares of Netflix, Inc. (NASDAQ:NFLX)

Rhumbline Advisers cut its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 802,825 shares of the Internet television network's stock after selling 1,970 shares during the period. Netflix makes up 0.7% of Rhumbline Advisers' investment portfolio, making the stock its 18th biggest holding. Rhumbline Advisers owned 0.19% of Netflix worth $748,658,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Pathway Financial Advisers LLC lifted its position in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after acquiring an additional 14 shares during the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix during the 4th quarter worth $27,000. Transce3nd LLC acquired a new position in Netflix during the 4th quarter worth $32,000. Newton One Investments LLC acquired a new position in Netflix during the 4th quarter worth $34,000. Finally, Pineridge Advisors LLC lifted its position in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after acquiring an additional 40 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Netflix

In other news, CAO Jeffrey William Karbowski sold 640 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,194.77, for a total transaction of $764,652.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the sale, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at $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 90 days, insiders have sold 100,262 shares of company stock worth $106,599,765. Company insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NFLX shares. Citigroup reissued a "neutral" rating and set a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research report on Thursday. Robert W. Baird upped their price objective on shares of Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Moffett Nathanson reiterated a "buy" rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Bank of America increased their target price on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research note on Friday. Finally, Wells Fargo & Company increased their target price on shares of Netflix from $1,210.00 to $1,222.00 and gave the company 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,122.33.

Netflix Stock Up 1.0%

Shares of NASDAQ:NFLX traded up $11.75 during midday trading on Monday, reaching $1,218.98. The company's stock had a trading volume of 2,287,791 shares, compared to its average volume of 3,751,692. The firm has a market capitalization of $518.76 billion, a P/E ratio of 61.47, a PEG ratio of 2.12 and a beta of 1.58. The firm has a 50 day moving average of $1,059.27 and a 200-day moving average of $976.26. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,219.76. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the previous year, the business posted $8.28 EPS. On average, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.