Trek Financial LLC Trims Position in Netflix, Inc. (NASDAQ:NFLX)

Trek Financial LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 85.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 776 shares of the Internet television network's stock after selling 4,387 shares during the quarter. Trek Financial LLC's holdings in Netflix were worth $724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC lifted its holdings in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new stake in Netflix during the 4th quarter worth about $27,000. Transce3nd LLC purchased a new stake in Netflix during the 4th quarter worth about $32,000. Copia Wealth Management purchased a new stake in Netflix during the 4th quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Insiders Place Their Bets

In other news, Director Reed Hastings sold 9,673 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the completion of the transaction, the director owned 394 shares in the company, valued at $523,669.34. The trade was a 96.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,824,949.02. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,723 shares of company stock valued at $223,307,201. Company insiders own 1.37% of the company's stock.

Netflix Stock Up 1.0%

Shares of NFLX traded up $12.97 on Wednesday, reaching $1,288.28. The stock had a trading volume of 2,380,931 shares, compared to its average volume of 3,760,056. The company has a 50-day simple moving average of $1,214.45 and a 200-day simple moving average of $1,042.85. The firm has a market capitalization of $548.25 billion, a price-to-earnings ratio of 60.88, a price-to-earnings-growth ratio of 2.34 and a beta of 1.59. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping 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 business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the previous year, the company posted $8.28 earnings per share. Sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NFLX shares. Citigroup restated a "neutral" rating and issued a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. FBN Securities started coverage on Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 target price on the stock. Robert W. Baird upped their target price on Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. UBS Group increased their price objective on Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $1,126.00 price objective on shares of Netflix in a research report on Thursday, April 17th. One equities research 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 given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,185.61.

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.