Trek Financial LLC Sells 4,387 Shares of Netflix, Inc. (NASDAQ:NFLX)

Trek Financial LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 85.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 776 shares of the Internet television network's stock after selling 4,387 shares during the period. Trek Financial LLC's holdings in Netflix were worth $724,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after acquiring an additional 144 shares during the last quarter. BIP Wealth LLC increased its holdings in shares of Netflix by 23.8% in the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after acquiring an additional 87 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Netflix by 39.1% in the 4th quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network's stock valued at $1,926,000 after acquiring an additional 607 shares during the last quarter. Finally, Moran Wealth Management LLC increased its holdings in shares of Netflix by 6.9% in the 4th quarter. Moran Wealth Management LLC now owns 2,851 shares of the Internet television network's stock valued at $2,541,000 after acquiring an additional 185 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 26,977 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the transaction, the director directly owned 394 shares of the company's stock, valued at approximately $446,421.70. This represents a 98.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director directly owned 79,040 shares of the company's stock, valued at $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock valued at $223,307,201 in the last three months. Insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NFLX. Macquarie boosted their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Rosenblatt Securities boosted their price target on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a report on Monday, April 21st. Citigroup reiterated a "neutral" rating and issued a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $1,126.00 price target on shares of Netflix in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,195.30.

Netflix Price Performance

Shares of Netflix stock traded down $32.38 during midday trading on Thursday, hitting $1,255.90. 2,058,621 shares of the company were exchanged, compared to its average volume of 3,758,299. 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 firm has a market cap of $534.47 billion, a P/E ratio of 59.34, a PEG ratio of 2.32 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 has a 50 day simple moving average of $1,217.58 and a 200-day simple moving average of $1,044.54.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the previous year, the company posted $8.28 EPS. Research analysts forecast 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.