Scotia Capital Inc. Sells 4,071 Shares of Netflix, Inc. (NASDAQ:NFLX)

Scotia Capital Inc. trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 12.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,222 shares of the Internet television network's stock after selling 4,071 shares during the period. Scotia Capital Inc.'s holdings in Netflix were worth $27,251,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Fullcircle Wealth LLC increased its stake in Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after purchasing an additional 9 shares in the last quarter. Mission Creek Capital Partners Inc. increased its stake in shares of Netflix by 0.3% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after acquiring an additional 10 shares during the period. Continuum Wealth Advisors LLC increased its stake in shares of Netflix by 4.4% in the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after acquiring an additional 10 shares during the period. Financial Enhancement Group LLC increased its stake in shares of Netflix by 2.5% in the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after acquiring an additional 10 shares during the period. Finally, Saxony Capital Management LLC increased its stake in shares of Netflix by 1.4% in the first quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock worth $659,000 after acquiring an additional 10 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Performance

NFLX opened at $1,158.60 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market cap of $492.32 billion, a price-to-earnings ratio of 49.37, a PEG ratio of 1.95 and a beta of 1.59. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The firm's fifty day simple moving average is $1,234.32 and its two-hundred day simple moving average is $1,083.98.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company's revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $4.88 earnings per share. Equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NFLX shares. Barclays reiterated a "sell" rating and issued a $1,100.00 price objective (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. BMO Capital Markets reiterated an "outperform" rating and issued a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. UBS Group reiterated a "market underperform" rating on shares of Netflix in a research note on Saturday, July 19th. Benchmark reiterated a "hold" rating on shares of Netflix in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Transactions at Netflix

In other news, Director Reed Hastings sold 26,933 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the transaction, the director directly owned 394 shares of the company's stock, valued at approximately $477,394.04. This trade represents a 98.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the transaction, the director directly owned 7,969 shares in the company, valued at approximately $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,830 shares of company stock valued at $153,102,930. Company insiders own 1.37% of the company's stock.

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.

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