Stablepoint Partners LLC Has $3.11 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Stablepoint Partners LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,334 shares of the Internet television network's stock after selling 277 shares during the quarter. Stablepoint Partners LLC's holdings in Netflix were worth $3,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NFLX. Capital & Planning LLC acquired a new stake in shares of Netflix in the fourth quarter valued at about $809,000. Brighton Jones LLC raised its stake in Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after buying an additional 257 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Netflix in the fourth quarter valued at approximately $12,212,000. Revolve Wealth Partners LLC raised its stake in Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares during the period. Finally, Sargent Investment Group LLC raised its stake in Netflix by 43.0% in the fourth quarter. Sargent Investment Group LLC now owns 429 shares of the Internet television network's stock valued at $360,000 after buying an additional 129 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Wall Street Analyst Weigh In

NFLX has been the topic of several research analyst reports. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Jefferies Financial Group increased their target price on Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a research note on Tuesday. Rosenblatt Securities increased their target price on Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. Pivotal Research increased their target price on Netflix from $1,250.00 to $1,350.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $1,200.00 target price (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Eleven 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,149.91.

Netflix Stock Up 0.9%

Shares of NASDAQ:NFLX opened at $1,250.52 on Friday. The firm has a market cap of $532.19 billion, a P/E ratio of 63.06, a P/E/G ratio of 2.12 and a beta of 1.58. 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, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81. The business has a fifty day simple moving average of $1,081.54 and a 200 day simple moving average of $985.25.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the company earned $8.28 EPS. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 25,360 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares of the company's stock, valued at $362,933.10. The trade was a 98.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Insiders sold a total of 152,300 shares of company stock valued at $169,146,939 in the last three months. Insiders own 1.37% of the company's stock.

Netflix 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.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.