Tobam Sells 648 Shares of Netflix, Inc. (NASDAQ:NFLX)

Tobam lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 76.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 197 shares of the Internet television network's stock after selling 648 shares during the quarter. Tobam's holdings in Netflix were worth $184,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NFLX. GAMMA Investing LLC lifted its holdings in shares of Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Norges Bank bought a new position in shares of Netflix during the fourth quarter worth about $5,019,087,000. Proficio Capital Partners LLC lifted its stake in shares of Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after acquiring an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock valued at $2,051,016,000 after acquiring an additional 856,307 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock worth $870,752,000 after purchasing an additional 743,724 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NFLX. Rosenblatt Securities increased their price objective 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 raised their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Wolfe Research set a $1,340.00 price objective on Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. FBN Securities started coverage on Netflix in a report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 target price on the stock. Finally, UBS Group upped their price objective on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,156.73.

Netflix Price Performance

Shares of NASDAQ NFLX traded up $9.99 during midday trading on Monday, reaching $1,222.14. The company's stock had a trading volume of 1,116,254 shares, compared to its average volume of 3,750,817. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $520.11 billion, a P/E ratio of 61.62, a P/E/G ratio of 2.12 and a beta of 1.59. The business's 50 day moving average price is $1,120.37 and its two-hundred day moving average price is $1,000.96. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81.

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

Insider Buying and Selling at Netflix

In related news, insider Cletus R. Willems sold 298 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the transaction, the insider now owns 31,610 shares of the company's stock, valued at approximately $35,972,180. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director now directly owns 63,040 shares in the company, valued at $78,948,144. This trade represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock worth $210,271,552 over the last three months. 1.37% of the stock is currently owned by insiders.

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.